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

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 puts a valuation of at least $35 a share on the business, according to a person with knowledge of the matter.

At a strategy meeting in Berlin yesterday, Deutsche Telekom senior managers discussed $35 to $40 as a realistic valuation range for T-Mobile that could trigger talks, said the person, who asked not to be identified because the deliberations are confidential. T-Mobile, which rejected a $33-a-share bid by France’s Iliad SA this month, hasn’t received an increased offer, the person said.