The telecom share of Americans is growing from the last 46.7 to 48.4 percent.
Bonn As expected, Deutsche Telekom has increased its stake in the US subsidiary T-Mobile US. Another 21.2 million T-Mobile shares have been acquired by Japanese partner Softbank for 2.4 billion US dollars (2.2 billion euros), the Dax-listed group announced in Bonn on Wednesday. That equates to an average price per share of $113.
As a result, the telecom share of Americans is growing from the last 46.7 to 48.4 percent. To finance the share purchase, Deutsche Telekom is using part of the approximately four billion euros that it received from the sale of T-Mobile Netherlands, it said. Deutsche Telekom shares extended their gains after the news.
As has been known for some time, Telekom CEO Tim Höttges wants to further increase his stake in the subsidiary. Deutsche Telekom and Softbank had agreed, among other things, that Telekom will be able to acquire a total of 101 million T-Mobile US shares from SoftBank’s holdings by June 2024.
