Deutsche Telekom soars on positive merger expectations

Tuesday, 11. February 2020 11:29

In anticipation of the positive ruling by the US District Court Judge Victor Marrero in Manhattan on Tuesday regarding a $26.5 billion takeover of Spring Corp. by T-Mobile US Inc, the Deutsche Telekom stock jumped 4% in the morning trade on Tuesday.

The forecasted merger outcome would be good news for Deutsche Telekom since the German company holds 63% of T-Mobile, as well as for Sprint's parent SoftBank Group Corp. After the merger is finalized, the company will operate under the T-Mobile name and is expecting to grow its subscriber base to around 80 million, possibly surpassing AT&T with 75 million subscribers and coming close to Verizon Communications Inc and its 114 million subscribers.

The shares of Deutsche Telekom surged 4.05% going for €15.466 at 11:20 am CET.

Related Links: T-Mobile US, Inc.Sprint CorporationDeutsche Telekom AG
Author:
Breaking the News / BJ