Deutsche Telekom (OTCMKTS:DTEGY) announced it has bought additional shares in T-Mobile US yesterday from Softbank for $2.4 billion. According to Reuters, the move brings CEO Tim Hoettges closer to his goal of securing direct control over the U.S. telecom operator. The acquisition of the 21.2 million shares was made via a call option that raises Deutsche Telekom's stake in T-Mobile US to 48.4 percent, the German company said on Wednesday.
In 2020, Deutsche Telekom agreed to pay Softbank a fixed price of $101.46 per T-Mobile US share for 11.8 million of the shares. The rest of the deal would be based on the stock's weighted average price. The average price for the deal was $113 per T-Mobile US share, compared with Tuesday's closing price of $131.44. Reuters said Deutsche Telekom used part of the roughly $4.3 billion it received from the sale of its T-Mobile Netherlands business to pay for the shares.
No comments:
Post a Comment