Same price per share but looks to buy bigger stake.
French telecom giant Iliad is planning to buy a larger stake in T-Mobile from Deutsche Telekom, which owns 66%.
In July, Iliad proposed to buy 56.6% stake in T-Mobile from Deutsche Telekom for $33 per share.
However, as per the latest plan, it intends to offer the same price but for larger stake, Bloomberg reported, citing people familiar with the matter.
In a self-imposed deadline, Illiad plans to reach a preliminary arrangement with Deutsche Telekom by the end of this month.
However, some executives at Deutsche Telekom consider $35 per share as a much better price for T-Mobile.
Deutsche Telekom is planning to sell T-Mobile’s stake as it is not able to wrest the US market share from AT&T and Verizon Communications.
Iliad is putting up a new bid after it could get the backing of investors including buyout firm KKR & Co, in order to raise approximately $5bn through additional debt and equity.
In the recent years, Deutsche Telekom failed to sell its stake in T-Mobile to AT&T and Sprint as US antitrust officials were opposed to the deals because it would bring down the number of complete-service operators to less than four.
However, a sale to Iliad may be more feasible from a regulatory perspective as Illiad has never operated in the US.