DUESSELDORF, Germany—Deutsche Telekom said it has bought additional shares in T-Mobile US from Softbank for $2.4 billion, bringing CEO Tim Hoettges closer to his goal of securing direct control over the U.S. telecoms 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 percent, within touching distance of a majority stake, from below 47 percent, the German company said on Wednesday.
As part of a deal agreed with Softbank in 2020, 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.
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