Telekom's share price significantly in the Plus - merger of U.S. subsidiary is approved

It is expected that the competent judge Victor Marrero agreed with the over 26 billion dollars (24 billion euros) heavy Mega-Deal, wrote the "Wall Street Journ

Telekom's share price significantly in the Plus - merger of U.S. subsidiary is approved

It is expected that the competent judge Victor Marrero agreed with the over 26 billion dollars (24 billion euros) heavy Mega-Deal, wrote the "Wall Street Journal" and, later, the Bloomberg news Agency on Monday evening (local time), citing inaugurated circles. The verdict was expected to be given on Tuesday known. The company itself did not want to comment for the time being.

At investors, the media were reports about an upcoming consent of judge Marrero for great excitement. Sprint shares shot up in after-hours U.S. trading, the shares of T-Mobile rose first, around 70 per cent, while 12 per cent. Especially the papers of the smaller and highly indebted merger partner Sprint had charged the large uncertainty around the merger of previously strong. The skepticism on Wall Street was at times very large. T-Mobile and Sprint, wanted to go in previous years together, what had failed, among other things, to antitrust concerns.

In Germany, in turn, the Telecom shares jumped on Tuesday morning clearly. Most recently, the title has improved by 4.4 percent, at 15,52 euros. The shares were by far the strongest Dax value. Deutsche Telekom EUR 15.46 +0,59 (+3,98%) Xetra

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Fusion for years

For the Telekom and its U.S. Daughter a positive judgment of the judge would be a great success. The merger had already been in April 2018, agreed, but due to antitrust concerns, the major project stalled for almost two years. Although the competition authorities of the U.S. Department of justice have already given subject to conditions, the green light and also the industry regulatory FCC agreed to already. However, 13 States and the government of the district of Washington had filed a complaint against the wedding of the third - and fourth-largest US mobile operator.

the major U.S. coastal States of New York and California led the plaintiff to the Alliance fears that the merger is detrimental to the competition, what is causing the increases in job losses and price. In December it met in New York to a Showdown in court - in the case of the two-week negotiations, Telekom Boss Tim Höttges, T-Mobile CEO John Legere testified. The case is also politically sensitive, because of the democratically ruled States with the lawsuit against the Republican government of US President Donald Trump.

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/Reuters
Date Of Update: 11 February 2020, 11:00
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