So much has happened in the past 48 hours between Sprint, T-Mobile, and Iliad, leaving industry professionals trying to determine what it all means. Sprint has officially bowed out of their agreement with T-Mobile and the FCC is thrilled. “Four national wireless providers are good for American consumers. Sprint now has an opportunity to focus their efforts on robust competition,” FCC Chairman Tom Wheeler said. With Sprint waving goodbye, T-Mobile is taking a second look at Iliad’s offer. People familiar with the matter said, “The offer looks better than it did yesterday. The offer is still there, and it is good,” The Wall Street Journal reported. While Iliad might have been inclined to increase their bid after reports of T-Mobile’s rejection emerged, with Sprint no longer in the game Iliad has no reason to up their $15 billion bid. International buyers like Iliad “bring nothing except cash and likely overly optimistic assessments of the transferability of their capabilities,” Bernstein Research analysts noted on Wednesday. “With Sprint out of the picture, we believe Iliad returns as a very credible option,” analysts from Jeffries wrote in a note. Iliad could face competition from other potentially interested parties such as Dish Network, The Wall Street Journal reported.