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Share Name Share Symbol Market Type
Deutsche Telekom AG XE:DTE XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 16.722 16.722 16.722 0.00 00:00:00

SoftBank Group to Take 4.5% Stake in Deutsche Telekom, Form Strategic Partnership -- Update

07/09/2021 8:15am

Dow Jones News


Deutsche Telekom (XE:DTE)
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   By Kosaku Narioka and Mauro Orru 
 

SoftBank Group Corp. said Tuesday that it agreed on a strategic partnership and an equity share swap with Deutsche Telekom AG in a move that would diversify its exposure in Europe, and increase the German telecommunications company's stake in its T-Mobile US Inc. business.

The Japanese technology and investment company said it would receive 225 million new shares in the German telecom company in exchange for about 45 million T-Mobile US shares it held, and that Deutsche Telekom also intended to acquire another 20 million T-Mobile US shares from SoftBank.

Deutsche Telekom's stake in T-Mobile US will increase by 5.3% to 48.4%.

"This agreement furthers Deutsche Telekom's strategic objective of increasing its ownership stake in T-Mobile US to more than 50% in order to maintain long-term control and consolidation," Deutsche Telekom said.

SoftBank said it would hold a 4.5% stake in Deutsche Telekom and become its second-largest private shareholder and intends to have board representation, and that it would retain a 3.3% equity stake in the U.S. mobile company.

Under the strategic partnership, SoftBank portfolio companies will gain access to Deutsche Telekom's customers across Europe and in the U.S.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com and to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

September 07, 2021 03:00 ET (07:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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