French telecommunications company Iliad is preparing to make a second bid for T-Mobile. The company initially sought to purchase a 56.6 percent controlling stake in the Uncarrier at $33 per share back in July, an offer that was rejected by T-Mobile parent company Deutsche Telekom.

The new offer will be for a larger stake at the same $33 per share. Iliad founder and billionaire entrepreneur Xavier Niel has reportedly set a deadline of this month for reaching a preliminary agreement with the German telecom giant according to people familiar with the matter as reported by Bloomberg.

Sources also told the publication that Deutsche Telekom is in regular, informal contact with Iliad although they haven’t decided whether selling a larger stake would be worth it. Deutsche Telekom executives believe $35 per share would be a fair asking price for T-Mobile.

Iliad is regarded as a bit of a dark horse candidate for T-Mobile. Rival carrier and SoftBank acquiree Sprint was reportedly closing in on a deal to purchase the Uncarrier for around $40 per share during the summer.

The buyout was called off, however, as Sprint was likely concerned about what would no doubt be stiff opposition from regulators in the wake of AT&T’s failed takeover bid of T-Mobile in 2011.

Instead, the company decided to replace longtime CEO Dan Hesse with billionaire entrepreneur Marcelo Claure. The latter decision appears to be paying off thus far as Claure has shown he is more than willing to go toe-to-toe with the competition in terms of creating attractive promotions to lure new customers.

T-Mobile’s recent success under outspoken CEO John Legere has, according to sources, led some members of the Deutsche Telekom board to question whether or not they should sell what has become their only growing asset.