- Deutsche Telekom AG (OTC:DTEGY) paid $2.4 billion to SoftBank Group Corp (OTC:SFTBY) (OTC: SFTBF) to increase its stake in T-Mobile U.S. Inc (NASDAQ:TMUS) to 48.4%, Bloomberg reports.
- Deutsche Telekom acquired 21.2 million shares at an average price of $113 per T-Mobile share, taking it closer to holding a majority of the U.S. division.
- The purchase price implied a 13.4% discount to T-Mobile's April 11 closing of $130.42. T-Mobile shares closed at $131.44 on April 12.
- Deutsche Telekom used part of the €4 billion which it received from the sale of T-Mobile Netherlands.
- Deutsche Telekom has long flagged its desire to increase its stake in the U.S. business, accounting for nearly two-thirds of its sales.
- Deutsche Telekom previously had a 46.7% stake in T-Mobile after buying 45 million shares in the company in September as part of its agreement with SoftBank.
- Price Action: TMUS shares closed higher by 0.78% at $131.44 on Tuesday.
- Photo by Capri23auto from Pixabay
