Deutsche Telekom Sold $190 Million of T-Mobile Stock
Deutsche Telekom, the largest shareholder of T-Mobile US, has sold just over $190 million of shares of the company so far this month through planned transactions.
According to forms Deutsche Telekom filed with the Securities and Exchange Commission, it has sold 1.17 million T-Mobile shares from Jan. 2 through Jan. 9 at an average price of $162.74 each.
The transactions were carried out by a so-called 10b5-1 trading plan that Deutsche Telekom adopted Sept. 13, 2023. Trading plans execute automatically when preset conditions, such as price and volume, are met.
The sales leave Deutsche Telecom with 692.5 million T-Mobile shares. Of those, about 90 million are held by units of SoftBank; Deutsche Telekom has a pact with SoftBank to potentially acquire those T-Mobile shares. In December, SoftBank received 48.8 million of those 90 million T-Mobile shares as partial compensation for selling Sprint to T-Mobile in 2020.
Deutsche Telekom didn’t respond to a request for comment on the sale of the T-Mobile shares. It seems to be Deutsche Telekom’s first sale of T-Mobile stock since T-Mobile merged with MetroPCS in 2013. Deutsche Telekom remains T-Mobile’s top shareholder, with a stake of more than 50%.