Deutsche Telekom is committed to securing majority ownership of its T-Mobile US business, Chief Executive Tim Hoettges said on May 20.
Since T-Mobile’s takeover of rival operator Sprint, the German firm now owns 43% of the combined group but has majority voting control via an agreement with former Sprint parent SoftBank Group, which owns just under one-tenth of T-Mobile. Hoettges told shareholders at the group’s annual general meeting on April 1 that he expected T-Mobile to return up to $60 billion to shareholders between 2023 and 2025. Deutsche Telekom would use its share of the proceeds to increase its T-Mobile shareholding, he added.Deutsche Telekom CEO Tim Hoettges is pictured in Bonn, Germany, February 19, 2020.
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