Deutsche Telekom merger with T-Mobile US faces opposition from Elliott

Deutsche Telekom T-Mobile US Elliott Investment Management merger opposition share buybacks

Elliott Investment Management has taken a significant stake in Deutsche Telekom and is actively opposing a proposed full merger with its US subsidiary, T-Mobile US. The activist investor is pushing the German telecommunications giant to abandon plans for a massive combination—which could create a group valued at approximately $300 billion—in favor of returning value to shareholders through expanded share buybacks.

The proposed merger involves creating a new holding company, potentially located outside of Germany, to oversee both entities. This structure would likely reduce the combined ownership of the German state and the state development bank KfW from approximately 28% to 17%, making the deal a significant political issue in Berlin.

While Deutsche Telekom management has explored various integration models, resistance is growing. T-Mobile US executives have reportedly signaled they no longer support the merger, and minority shareholders have expressed concerns regarding the valuation of the American business. In response to market pressures, Deutsche Telekom recently increased its 2026 share buyback program to a range of 2 billion to 5 billion euros.

Entities

Deutsche Telekom · Elliott Investment Management · KfW · Srini Gopalan · T-Mobile US · Timotheus Höttges

Claims

What the coverage asserts, and how many sources carry each claim.

[● 8 SOURCES] Elliott proposes increasing shareholder value through larger share buybacks instead of a merger www.business-punk.com · www.diarioestrategia.cl · thenextweb.com · www.cash.ch · financiarul.ro · +2 more
[● 6 SOURCES] Deutsche Telekom holds approximately 53% to 54% of T-Mobile US www.business-punk.com · thenextweb.com · www.cash.ch · financiarul.ro · www.sharedeals.de · +1 more
[● 2 SOURCES] A proposed merger structure would involve a new holding company likely incorporated outside of Germany thenextweb.com · financiarul.ro
[● 2 SOURCES] A full merger between Deutsche Telekom and T-Mobile US could create a company valued at approximately $300 billion www.business-punk.com · financiarul.ro
[○ 1 SOURCE] T-Mobile US executives have indicated they no longer support the merger with Deutsche Telekom thenextweb.com
[● 8 SOURCES] Elliott Investment Management has built a stake in Deutsche Telekom www.business-punk.com · www.diarioestrategia.cl · thenextweb.com · www.cash.ch · financiarul.ro · +2 more
[● 3 SOURCES] The German government and KfW collectively own approximately 28% of Deutsche Telekom thenextweb.com · www.cash.ch · financiarul.ro
[● 8 SOURCES] Elliott Investment Management opposes a full merger between Deutsche Telekom and T-Mobile US www.business-punk.com · www.diarioestrategia.cl · thenextweb.com · www.cash.ch · financiarul.ro · +2 more
[● 2 SOURCES] A proposed merger structure involves creating a new holding company that would likely be incorporated outside of Germany. thenextweb.com · financiarul.ro
[● 8 SOURCES] Elliott Investment Management has built a significant stake in Deutsche Telekom. www.business-punk.com · www.diarioestrategia.cl · thenextweb.com · www.cash.ch · financiarul.ro · +2 more
[● 4 SOURCES] Deutsche Telekom currently holds approximately 53% to 54% of T-Mobile US. www.business-punk.com · thenextweb.com · financiarul.ro · www.finanzen.net
[○ 1 SOURCE] T-Mobile US executives have reportedly expressed opposition to the merger plans. thenextweb.com