BONN, Germany (Reuters) – The merger between T-Mobile US (TMUS.O) and Sprint (S.N) is within reach, the head of T-Mobile’s main owner Deutsche Telekom (DTEGn.DE) said on Wednesday, vowing to go on the offensive to close a valuation gap with U.S. market leaders AT&T and Verizon.
Timotheus Hoettges, Chief Executive Officer of Germany’s telecommunications giant Deutsche Telekom AG arrives for the company’s annual news conference in Bonn, Germany, February 19, 2020. REUTERS/Wolfgang Rattay
Highlighting the positive market reaction after a New York judge last week dismissed a lawsuit brought by more than a dozen U.S. states trying to block the deal, Tim Hoettges said the ‘new’ T-Mobile would have a market value of around $120 billion.
That compares with $274 billion for AT&T (T.N) and $242 billion for Verizon (VZ.N), he added in remarks prepared for a news conference.
“That is a difference of around $120 billion. I see no reason why this cannot be reduced considerably,”…
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