Deutsche Telekom has paid $ 2.4 billion to SoftBank Group to increase its stake in T-Mobile US, and is moving closer to its goal of acquiring a majority stake in the US subsidiary.
The German telecommunications company now owns 48.4% of the company, having bought 21.2 million shares with an average price of $ 113 per share of T-Mobile.
The company is using part of the almost 4 billion Euros it received from the recently completed sale of T-Mobile Netherlands, to buy the percentage.
While European telecommunications companies are struggling due to high competition and strict regulations, Deutsche Telekom has long indicated that it wants to increase its stake in US operations, which account for two-thirds of the group’s sales.
SoftBank had previously been involved in a complicated deal with Deutsche Telekom to sell part of its stake in T-Mobile US.
The Japanese company ended up having a stake in the American company after the completion of the large merger with sprint Corp. to 2020.
Source: Capital
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