CEO Tim Höttges announced the news at the company’s latest shareholder meeting, saying the German operator now owns 50.2% of the US giant
This week, Deutsche Telekom has announced that it has finally achieved it long-term goal of regaining a majority stake in the world’s most valuable mobile network operator, T-Mobile US.
According to Deutsche Telekom CEO Tim Höttges, the Group now owns a 50.2% stake in the business, finally achieving the majority ownership goal it first laid out during its 2021 Capital Markets Day
When T-Mobile acquired Sprint three years ago, DT’s stake in the operator stood at 43%,. Since then, Deutsche Telekom has gradually regrown its stake in the US business, reaching 49% in 2022, according to the company’s 2022 Annual Report.
Now, the company has taken the final step to increase this stake to a majority once again.
“We have the majority and are the largest shareholder of the world’s most valuable telecommunications company – T-Mobile U.S.,” announced Höttges in a shareholder meeting this week.
The cost of this increased share is reportedly less than $1 billion in 2023, with Deutsche Telekom estimating that the benefits of the transaction will be between $7.2 and $7.5 billion.
At the shareholders meeting, Höttges also highlighted the Group’s ongoing sustainability efforts, noting the progress that has been made in recent years.
“We emit 94 percent fewer CO2 emissions than in 2017. We aim to be fully climate neutral by 2025. Last year, we reduced our energy consumption in Germany by 278 gigawatt hours – that is 11 percent,” he said. “We want to achieve net zero emissions from the production of cell phones. Anyone who fails to achieve green production will eventually be removed from the line-up. We import devices. But we export our environmental protection standards.”
Deutsche Telekom is aiming for its entire value chain to be carbon neutral by 2040.
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