As per news source, Deutsche Telekom has bought additional shares in T-Mobile US for $2.4 billion from Softbank. This deal brings CEO Tim Hoettges closer to his goal of securing direct control over the U.S. telecom operator.
The purchase of the 21.2 million shares via a call option raises Deutsche Telekom's stake in T-Mobile US to 48.4%, within touching distance of a majority stake, from below 47%, the German company said.
According to a deal with Softbank in2020, Deutsche Telekom paid a fixed price of $101.46 per T-Mobile US share for 11.8 million of the shares, and $128.68 per share for the rest, based on the stock's weighted average price.
To pay for the shares, Deutsche Telekom used part of the roughly 4 billion euros that it has received from the sale of its T-Mobile Netherlands business.
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