# Deutsche Telekom and T-Mobile US corporate developments

> Live situation record from CLSTR: https://clstr.news/situations/deutsche-telekom-and-t-mobile-us-corporate-developments
> Updated: 2026-09-30T12:30:53.000Z. Sources: 13. Developments: 2.

Deutsche Telekom has faced significant opposition regarding its proposed full merger with T-Mobile US. Activist investor Elliott Investment Management has taken a stake in the German company to oppose the combination—which could create a group valued at roughly $300 billion—advocating instead for shareholder value through expanded buybacks. The merger has also become a political issue in Berlin, as the proposed structure would likely reduce the combined ownership of the German state and KfW from approximately 28% to 17%.

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

In the broader telecommunications sector, analysts have provided updated outlooks for both companies. Bernstein Research maintained a ‘Market-Perform’ rating for Deutsche Telekom, noting that potential regulatory shifts regarding the replacement of network components from providers like Huawei and ZTE could benefit the company. Meanwhile, analysts maintain a generally positive outlook for T-Mobile US, with several issuing ‘Buy’ recommendations.

## Timeline

### 2026-09-30: Telecommunications stocks Deutsche Telekom and T-Mobile US see analyst updates

Analysts provide updated ratings for Deutsche Telekom and T-Mobile US, noting potential regulatory benefits in the EU and positive price targets for US operations.

2 sources. https://clstr.news/cluster/telecommunications-stocks-deutsche-telekom-and-t-mobile-us-see-analyst-updates

### 2026-09-02: Deutsche Telekom merger with T-Mobile US faces opposition from Elliott

Activist investor Elliott Investment Management has acquired a stake in Deutsche Telekom to block a proposed $300 billion merger with T-Mobile US, advocating for share buybacks instead.

12 sources. https://clstr.news/cluster/elliott-urges-deutsche-telekom-to-halt-t-mobile-us-merger

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Cite as: Deutsche Telekom and T-Mobile US corporate developments. CLSTR, https://clstr.news/situations/deutsche-telekom-and-t-mobile-us-corporate-developments