Deutsche Telekom (DTEGn) now has a majority stake in T-Mobile U.S., Deutsche Telekom’s Chief Executive Officer Tim Höttges said during 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.,” Höttges said.
The value of T-Mobile U.S. has surged by EUR 153 billion since 2013.
According to Höttges, the increase in value for Deutsche Telekom’s shareholders exceeded EUR 70 billion.
The benefits of the transaction, estimated at $7.2 billion to $7.5 billion, are expected to outweigh the costs, which will be under $1 billion this year.
The shares of Deutsche Telekom AG (DTEGn) were last losing 2.68% (EUR 0.617) to trade at EUR 22.428 on Xetra on Thursday, while snapping an eight-day streak of gains.
The German telecoms company’s total market cap now stands at EUR 111.572 billion.
The shares of Deutsche Telekom AG have risen 20.33% so far this year, following another 14.34% gain in 2022.