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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).

SprintFrench 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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