Iliad will revise its current bid for T-Mobile and aim for a larger stake in the U.S. carrier, according to Bloomberg.

The French mobile provider will still be offering $33 a share but will go after a “significantly larger stake” than the 56.6 percent it originally bid to acquire from T-Mobile majority-owner Deutsche Telekom (DT).

Iliad has reportedly had success in securing financial backing for its improved offer, with $5 billion in additional debt being raised.

Reports of Iliad’s altered bid come as the carrier is nearing a mid-October deadline it set to either reach an agreement or drop its bid all together.

T-Mobile and DT rejected the initial offer. DT is reportedly looking for an offer that values T-Mobile at $35-$40 per share. A Reuters report also suggests DT is considering hanging onto its T-Mobile share until after next year’s Incentive Auctions.

Iliad’s initial offer surfaced when Sprint and SoftBank were reportedly still mulling a merger offer for T-Mobile. Sprint has since set aside consolidation aspirations, appointed a new CEO in Marcelo Claure, and aggressively targeted its competitors with new pricing and plans.