Deutsche Telekom, the largest shareholder of T-Mobile US, has recently conducted a series of planned transactions, resulting in the sale of just over $190 million worth of the company’s shares. According to forms filed with the Securities and Exchange Commission, Deutsche Telekom sold 1.17 million T-Mobile shares between January 2 and January 9, at an average price of $162.74 per share.
These transactions were executed through a trading plan known as a 10b5-1 plan, which Deutsche Telekom adopted on September 13, 2023. The plan allows for automatic execution of trades based on predetermined conditions such as price and volume.
Following the sales, Deutsche Telecom still retains ownership of 692.5 million T-Mobile shares. Notably, approximately 90 million of these shares are held by units of SoftBank, as part of an agreement between Deutsche Telekom and SoftBank. In December, SoftBank received 48.8 million T-Mobile shares as partial compensation for selling Sprint to T-Mobile in 2020.
Deutsche Telekom has not provided any comments regarding the sale of the T-Mobile shares. Notably, this appears to be the first instance of Deutsche Telekom selling T-Mobile stock since the merger with MetroPCS in 2013. As it stands, Deutsche Telekom remains the top shareholder in T-Mobile, with a stake of over 50%.