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Softbank's Claure: We have gained access to upside in Deutsche Telekom stock

09/07/2021 | 03:26am EST

BERLIN, Sept 7 (Reuters) - Softbank said on Tuesday it had gained access to future gains in the Deutsche Telekom share price through a complex share-swap deal under which the German group will raise its stake in U.S. unit T-Mobile.

"I'm a big believer that Deutsche Telekom stock has material upside in the future," Softbank executive Marcel Claure told a briefing.

As part of the $7 billion deal announced earlier, Softbank will exchange T-Mobile shares under a fixed-price option deal for a 4.5% stake in Deutsche Telekom, which Claure described as significantly undervalued. (Reporting by Douglas Busvine, editing by Emma Thomasson)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 2.53% 15.982 Delayed Quote.4.23%
RELIANCE INDUSTRIES LTD 2.56% 2467 Delayed Quote.21.16%
ROYAL KPN N.V. 1.31% 2.635 Real-time Quote.4.58%
SOFTBANK GROUP CORP. -2.16% 5900 End-of-day quote.-26.78%
T-MOBILE US -0.30% 108.44 Delayed Quote.-19.31%
TELE2 AB 0.74% 130.05 Delayed Quote.18.88%
VODAFONE GROUP PLC 1.88% 111.4 Delayed Quote.-9.59%
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