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

Thursday, 28 Aug 2014 01:27 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
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.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Calpers to Exit Hedge Funds, Citing Expenses, Complexity

Monday, 15 Sep 2014 18:35 PM

The California Public Employees' Retirement System plans to divest the entire $4 billion that it has with hedge funds, s . . .

Safety Chief Blasts GM's 'Incredibly Poor Decisions'

Monday, 15 Sep 2014 18:48 PM

The top U.S. auto safety regulator harshly criticized General Motors Co for not promptly reporting and recalling cars no . . .

Alibaba Boosts IPO as Demand Strengthens

Monday, 15 Sep 2014 17:21 PM

Alibaba Group Holding Ltdraised the price range on its initial public offering to $66 to $68 a share, responding to stro . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved