Deutsche Telekom Nears Majority Stake Ownership In T-Mobile

Deutsche Telekom Nears Majority Stake Ownership In T-Mobile
  • Deutsche Telekom AG DTEGY reiterated plans to build its stake in T-Mobile US, Inc TMUSthe Wall Street Journal reports.
  • Deutsche Telekom acknowledged nearing the majority ownership of T-Mobile U.S. by customers.
  • Deutsche Telekom disclosed a 48.4% stake in T-Mobile U.S. with majority voting power in the U.S. wireless carrier.
  • Earlier this year, Deutsche Telekom paid $2.4 billion to SoftBank Group Corp SFTBY to increase its stake in T-Mobile U.S. to 48.4%.
  • Deutsche Telekom raised its guidance for the second time this year, citing in part the performance of T-Mobile.
  • T-Mobile U.S. reported gains in wireless postpaid phone customers, slightly falling short of rival AT&T Inc T. However, both outperformed Verizon Communications Inc VZ, which has the country's most extensive wireless subscriber base.
  • T-Mobile's business in the U.S. accounted for about two-thirds of Deutsche Telekom's net revenue in Q2.
  • Price Action: TMUS shares closed lower by 0.85% at $143.61 on Thursday.

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