Partner for T-Mobile?Comments Off on Partner for T-Mobile?
Deutsche Telekom will consider a partner for T-Mobile that can improve profitability, Chief Executive Tim Hoettges stated at the company’s annual shareholder meeting. Hoettges said on Thursday that T-Mobile is in much better shape than two years ago. Deutsche Telekom owns a 66% share of the company, and is looking to improve the return of T-Mobile. If they find a partner who will help them do that, they will consider it. Last year, Deutsche Telekom tried to sell T-Mobile US to Sprint, but the No. 3 U.S. carrier dropped its bid after regulatory resistance. Hoettges told reporters on the sidelines of the meeting that Deutsche Telekom was under no pressure to sell T-Mobile, something he has said before. (Reuters) Jonathan Schildkraut of Evercore ISI commented, “Hoettges did not mention any potential suitors specifically, but in the past has mentioned CMCSA [Comcast Corporation], AMX [America Movil], and DISH as potential candidates. With an election coming up, we believe there might be a change in the view towards industry consolidation.”