SFTBF - Deutsche Telekom boosts T-Mobile stake buying shares from SoftBank

Deutsche Telekom (DTEGY +1.8%) has boosted its stake in T-Mobile (TMUS +2.1%) to 48.4%, buying more shares as part of a 2020 deal with SoftBank (SFTBY +2.2%). The German telecom bought another 21.2 million shares for $2.4 billion as part of a call option. It's also going largely as planned, given Deutsche Telekom's (OTCQX:DTEGY) stated goal of taking on a majority of capital of T-Mobile US. Last fall, Deutsche Telekom (DTEGY) and SoftBank (OTCPK:SFTBY) had agreed that the German telecom could buy a total of 101 million shares of T-Mobile (NASDAQ:TMUS) from SoftBank's portfolio by June 2024 - and at that time, Deutsche Telekom acquired 45 million shares of T-Mobile to boost its stake to 46.7%. SoftBank (SFTBY) still holds about 39.7 million shares of T-Mobile (TMUS), worth about $5.2 billion. For the purchase, Deutsche Telekom (DTEGY) tapped part of the €4 billion it received in the sale of T-Mobile

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Deutsche Telekom boosts T-Mobile stake, buying shares from SoftBank