Investing.com — T-Mobile’s US executives informed Deutsche Telekom that they no longer support a proposed $300 billion merger between the two companies, Semafor reported Friday, citing people familiar with the matter.
The executives pointed to shareholder concerns and potential regulatory issues as reasons for their opposition, according to the report.
Several of T-Mobile’s non-controlling shareholders, including large institutional investors, told the US company they would oppose a merger with Deutsche Telekom, the people told Semafor.
T-Mobile executives also received information from government officials indicating that US regulators would likely require a guarantee that T-Mobile’s US revenue would be reinvested in the country or otherwise remain in the United States, Semafor reported.
T-Mobile shares were trading roughly 0.9% lower following the report, Deutsche Telekom ADRs in the U.S. were recouping some earlier losses but still traded 0.9% lower for the day.
Deutsche Telekom is the controlling shareholder of T-Mobile.
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