Deutsche Telekom lifts T-Mobile US stake in SoftBank swap deal ...Qatar

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Deutsche Telekom lifts T-Mobile US stake in SoftBank swap deal
source : Gulf Times ( Qatar ) () 3
Deutsche Telekom has struck a $7bn share-swap deal with SoftBank Group to increase its stake in US unit T-Mobile and sold its Dutch unit in a major shake-up that strengthens the German group’s transatlantic focus. As a result of the two deals announced on Tuesday, Deutsche Telekom will raise its stake in T-Mobile US by 5.3% to 48.4%, bringing CEO Tim Hoettges closer to his goal of securing direct control over the $170bn US telecoms operator. SoftBank will in return receive cash and a 4.5% stake in Deutsche Telekom, establishing a direct shareholding relationship after the Japanese group sold its US Sprint unit to T-Mobile in a deal that closed in early 2020. The latest transactions seek to

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