SoftBank Soars After Stock Swap Deal With Deutsche Telekom
- Deutsche Telekom swaps own stock for SoftBank’s T-Mobile stake
- Japan’s SoftBank to retain a 3.3% stake in the U.S. carrier
The Deutsche Telekom offices in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
SoftBank Group Corp. surged the most in nine months after unveiling a deal to acquire 4.5% of Deutsche Telekom AG and sell part of its stake in T-Mobile US Inc. to the German telecommunications carrier.
The Japanese investment giant announced a complicated deal under which it will swap T-Mobile shares for an initial 225 million shares of Deutsche Telekom. Separately, the telecom operator will then sell T-Mobile Netherlands for $6.1 billion, using $2.4 billion of those proceeds to pick up another 20 million T-Mobile shares, the companies said in a statement.