Deutsche Telekom Said Open to T-Mobile Talks at $35 a Share

Thursday, 28 Aug 2014 01:27 PM

 

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Deutsche Telekom AG is willing to negotiate a sale of its T-Mobile US Inc. unit, the fourth- largest wireless carrier in the U.S., if an offer values the business at $35 a share or more, according to a person with knowledge of the matter. The stock jumped.

Senior managers of Deutsche Telekom discussed T-Mobile’s valuation at a strategy meeting today in Berlin, said the person, who asked not to be identified because the deliberations are confidential. T-Mobile, which rejected Iliad SA’s $33 a share bid this month, hasn’t received an improved offer, the person said.

T-Mobile shares rose as much as 6.6 percent to $31.37, valuing the Bellevue, Washington-based company at $25.3 billion at that price. They traded 3.4 percent higher at $30.43 as of 12:54 p.m. in New York.

Philipp Kornstaedt, a spokesman for Bonn-based Deutsche Telekom, declined to comment. He reiterated Chief Executive Officer Timotheus Hoettges’s Aug. 7 remarks that any offer would have to exceed T-Mobile’s standalone value.

© Copyright 2014 Bloomberg News. All rights reserved.

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