S, TMUS: Sprint Stock Sinks on News of Another T-Mobile Bidder
French company Iliad is in the running for the carrier
Sprint (S) stock dropped Thursday afternoon after another company announced that it’s looking to acquire T-Mobile (TMUS).
French telecommunications provider Iliad has expressed interest in acquiring the carrier. The company said it placed an offer of $15 billion in cash — $33 a share — for 56.6% of T-Mobile.
Iliad values the remaining 43.4% of the company at $40.50, making the overall value of the shares $36.20. Sprint made a $30 billion offer for the company.
T-Mobile second-quarter results reveal that the company gained more than 1.5 million customers.
S stock is down close to 6% Thursday afternoon. TMUS stock is up about 6.5%.
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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/s-tmus-sprint-t-mobile/.
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