Deutsche Telekom Reaches Majority Stake in T-Mobile U.S.: CEO

Deutsche Telekom now holds a majority in T-Mobile U.S., the chief executive of the German telecoms company said on Wednesday, Reuters reported. 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. Read more.