Deutsche Telekom (DT) is willing to consider any partner who can help it to improve the return on T-Mobile US, CEO Tim Hoettges has said. Reuters cited Hoettges at the German incumbent’s annual shareholders meeting saying the US business, in which it…
Deutsche Telekom (DT) is willing to consider any partner who can help it to improve the return on T-Mobile US, CEO Tim Hoettges has said.
Reuters cited Hoettges at the German incumbent’s annual shareholders meeting saying the US business, in which it has a 66% stake, is doing better than it was two years ago.
However, he added that it is DT’s responsibility to keep boosting profitability, so it would therefore “obviously consider” a partner able to help it do so.
Last year, the US’ third-largest wireless carrier, Softbank-owned Sprint, gave up on plans to acquire T-Mobile US following regulatory opposition. French telecoms group Iliad then swooped in with an opportunistic US$33 per share offer for a 56.6% stake, which DT rejected. The Xavier Niel-owned group upped its offer to US$36 per share, including cost savings, for a 67% holding, but this was also turned down.
T-Mobile US said in its Q1 2015 results that it had 1.8 million total net subscriber additions that quarter – its eighth consecutive quarter with more than a million total net subscriber adds. Revenues were up 13.1% year-on-year to US$7.8bn, while adjusted EBITDA was up 27.6% to US$1.4bn.
DT was not immediately available for further comment.
