By Adria Calatayud

Deutsche Telekom AG has achieved its goal of owning a majority stake in T-Mobile US Inc., the German company's Chief Executive Tim Hoettges said Wednesday at its annual general meeting.

Deutsche Telekom's stake in T-Mobile US currently stands at 50.2%, up from 43% after the U.S. company's combination with Sprint three years ago, Mr. Hoettges said. Deutsche Telekom had committed to reach majority ownership in T-Mobile US at its capital-markets day in 2021.

T-Mobile US launched a share-buyback program last year in which Deutsche Telekom didn't participate, which allowed it to increase its stake.

Having achieved majority ownership in T-Mobile US, Deutsche Telekom will now have to decide whether to participate in T-Mobile US's buyback program or remain on the sidelines and raise its stake further, Mr. Hoettges said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

April 05, 2023 07:51 ET (11:51 GMT)

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