Iliad Said in Talks With Buyout Firms on New T-Mobile US Bid

Billionaire Xavier Niel’s Iliad SA is talking to private-equity firms about teaming up to make an improved offer for Deutsche Telekom AG’s T-Mobile US Inc. unit, according to people familiar with the matter.

Iliad’s discussions with potential partners may accelerate after Deutsche Telekom indicated it’s willing to negotiate a sale if a bid puts a valuation of at least $35 a share on the business, said the people, who asked not to be identified because the talks are private. The German company hasn’t received a new proposal and there’s no guarantee a higher offer will be made, they said.