T-Mobile rejects bid from French company

T-Mobile US Inc. denied Iliad SA's request for access to the U.S. telecom's books after determining the French company's proposed $15 billion bid wasn't strong enough, people familiar with the matter told the Wall Street Journal.

Last week, Iliad made a surprise bid for 56.6% of T-Mobile and sought access to its confidential financial information to perform due diligence in an effort to make a formal offer.

Meanwhile, T-Mobile's long-running talks to be acquired by Sprint Corp. have slowed. The deal's timing, most recently set for September, are now said to be delayed. That deal valued T-Mobile at $32 billion.

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