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SoftBank Soars After Stock Swap Deal With Deutsche Telekom

  • Deutsche Telekom swaps own stock for SoftBank’s T-Mobile stake
  • Japan’s SoftBank to retain a 3.3% stake in the U.S. carrier
The Deutsche Telekom offices in Berlin.

The Deutsche Telekom offices in Berlin.

Photographer: Krisztian Bocsi/Bloomberg
Updated on

SoftBank Group Corp. surged the most in nine months after unveiling a deal to acquire 4.5% of Deutsche Telekom AG and sell part of its stake in T-Mobile US Inc. to the German telecommunications carrier.

The Japanese investment giant announced a complicated deal under which it will swap T-Mobile shares for an initial 225 million shares of Deutsche Telekom. Separately, the telecom operator will then sell T-Mobile Netherlands for $6.1 billion, using $2.4 billion of those proceeds to pick up another 20 million T-Mobile shares, the companies said in a statement.