A crow rests on the GSM mobile phone antennas of Deutsche Telekom AG atop the German telecoms giant's headquarters in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing Rights
April 5 (Reuters) – Deutsche Telekom (DTEGn.DE) now holds a majority in T-Mobile U.S. (TMUS.O), the chief executive of the German telecoms company said on Wednesday.
The company reached a majority stake in T-Mobile U.S late Tuesday, CEO Tim Höttges said at the company's annual general meeting.
"We have the majority and are the largest shareholder of the world's most valuable telecommunications company – T-Mobile U.S.," he said.
Since 2013, the value of T-Mobile U.S. has increased by 153 billion euros ($167.44 billion).
The increase in value for Deutsche Telekom's shareholders stood at more than 70 billion euros, Höttges said.
Deutsche Telekom estimates that the benefits of the transaction – between $7.2 and $7.5 billion – will outweigh the costs, which will amount to less than $1 billion in 2023.
($1 = 0.9137 euros)
Reporting by Tom Käckenhoff, writing by Linda Pasquini, editing by Friederike Heine
Our Standards: The Thomson Reuters Trust Principles.
Airbus is pushing ahead with plans to name a new internal head of its commercial aircraft business, effectively recreating a separate civil jetliner division with the list of candidates widening to include sales chief Christian Scherer.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved