(Telecompaper) French operator Iliad, know under the brand Free, has made a takeover bid for T-Mobile US. The surprise offer marks Iliad's first expansion outside its home market, where it first broke open the triple-play market and then drove down prices in the mobile market by becoming the fourth network operator. Iliad said T-Mobile's 'unCarrier' strategy has many similarities to its own development in France. The French company is offering USD 15 billion for 56.6 percent of T-Mobile US, equal to USD 33.0 per share. It values the remainder of T-Mobile at USD 40.5 per share, based on an estimated UD 10 billion in synergies. This results in a total price of USD 36.2 per share, a premium of 42 percent on T-Mobile's share price in December 2013 when reports first emerged of Sprint's interest in T-Mobile. Iliad said it would finance the cash offer in a combination of debt and internal resources and has secured the support of international banks for the loans. Around EUR 2 billion would come from a capital increase at the French company, in which controlling shareholder Xavier Niel has pledged his participation. Iliad said it does not expect any regulatory problems with the acquisition, given it currently has no presence in the US.