Softbank agrees strategic share swap pact with Deutsche Telekom
Reuters
Published Sep 07, 2021 06:50
TOKYO (Reuters) - Japan's Softbank Group said on Tuesday it had agreed a strategic partnership with Deutsche Telekom (DE:DTEGn), Germany's main telecoms company, which will receive 45 million shares of T-Mobile US (NASDAQ:TMUS) for 240 million of its shares.
Deutsch Telekom will receive another 20 million shares of the No.3 U.S. wireless carrier with proceeds from the sale of T-Mobile Netherlands, Softbank said in a statement.
The share swap pact will give the Japanese firm access to about 300 million customers, including 95 million who pay for Deutsche Telekom services, it said.
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Written By: Reuters
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