By Mauro Orru

 

Deutsche Telekom AG plans to increase its stake in its T-Mobile US Inc. business to more than 50%, Chief Executive Tim Hoettges said on Thursday.

The German telecommunications company currently has 43% of T-Mobile US which it controls through a shareholder agreement with Japanese technology and investment company SoftBank Group Corp.

Deutsche Telekom has a roadmap to increase its stake to 51% by 2024, management said ahead of the company's capital markets day on Thursday.

Deutsche Telekom is also considering the sale of its Netherlands business T-Mobile Netherlands and tower portfolio.

"The group regularly assesses its investments for possibilities to further increase their value - currently with a focus on T-Mobile Netherlands and the tower portfolio. In both cases, without preconceived views as to an outcome and with no time pressure," the company said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

May 20, 2021 05:39 ET (09:39 GMT)

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