Iliad Shares Down In European Trading On T-Mobile Deal

Iliad ILIAY and T-Mobile TMUS shares parted ways like the Red Sea.

Iliad shares are down more than six percent in European trading while T-Mobile shares jumped more than six percent following a report that Iliad is interested in buying T-Mobile.

According to Reuters, Iliad offered $15 billion for 56.6 percent of T-Mobile. This values the shares, last trading at $32.94, at $33.

Iliad is not the only stock to sell off on the news. Sprint S shares gave up 5.3 percent Thursday as the rumored T-Mobile and Sprint merger seems less likely.