Shares of Deutsche Telekom AG soared more than 4% on Wednesday following its report that the company's revenue for the fourth quarter of 2019 increased by 6.4%, while its adjusted EBITDA yearly rose 24.2%.

By achieving the aforementioned growth, the shares' value of the German telecommunications company climbed to the highest number since June 2017.

Deutsche Telekom's stocks traded 4.17% higher to go for €16.552 at 3:29 pm CET.