WSJ: France's Iliad Makes a Bid to Acquire T-Mobile

T-Mobile Sprint isn't the only company trying to buy T-Mobile US. Iliad, a telecom in France, "has made an offer for T-Mobile US in a bold bid to counter an offer for the country's fourth-largest wireless carrier by Sprint," The Wall Street Journal reported on Thursday. But it may be too late. While Sprint and T-Mobile haven't announced a merger, the two companies "have agreed on the broad outlines of a deal valuing T-Mobile US at more than $30 billion," the report stated. The CEO of Sprint owner SoftBank, Masayoshi Son, has argued that Sprint needs more scale to compete against AT&T and Verizon Wireless and has vowed a "massive price war" if regulators let Sprint and T-Mobile merge. T-Mobile US CEO John Legere has spoken favorably of "consolidation" and is reportedly likely to be CEO of a combined Sprint/T-Mobile.

Read the full story at Ars Technica, and the original report at The Wall Street Journal.