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Deutsche Telekom put a valuation of at least $35 a share to any business willing to buy its T-Mobile US unit, the fourth-largest wireless carrier in the U.S., reports Bloomberg.

T-Mobile’s stock price rose 0.3 percent to $29.92 at 9:48 a.m. in New York, adding to yesterday’s 1.4 percent gain. Deutsche Telekom owns 67 percent of the Bellevue, Washington-based company, which has a market value of $24 billion.

T-Mobile rejected a $33-a-share bid by France’s Iliad this month, but hasn’t received an increased offer, according to reports.

Iliad rattled France’s wireless market with rock-bottom-priced packages that have led to a two-year tariff war with incumbent operators. BNP Paribas SA and HSBC Holdings Plc had agreed to lend Iliad as much as $13 billion to finance its bid, a person with knowledge of the deal has said.

A deal with Sprint may have valued T-Mobile at about $40 a share, has gone South. Deutsche Telekom would consider forgoing a higher price if that means avoiding the uncertainty of a prolonged regulatory review of a deal that would reduce the number of nationwide carriers to three from four, other people familiar with the matter have said.

In the absence of a good enough offer, Deutsche Telekom is focusing on the U.S. spectrum auctions. Management left open yesterday how T-Mobile plans to finance the purchases, the person said. The operator faces its first auction of wireless spectrum, of so-called “AWS-3 bands,” starting Nov. 13, according to the Federal Communications Commission.

For next year’s auction of coveted 600-megahertz bands, which allow larger areas of coverage across the countryside and inside buildings, Hoettges is pressuring regulators for favorable conditions to help T-Mobile offset the deeper coffers of its larger rivals.

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