Deutsche Telekom slips as T-Mobile mega-merger raises doubts

Deutsche Telekom AG

22/04/2026 10:31

** Deutsche Telekom DTEGn.DE shares fall over 3% after a Bloomberg report said the German operator is considering a merger with T-Mobile TMUS.O

** The potential deal would create the world's No.1 wireless operator and reduce DT's holding discount, though analysts flag regulatory and political hurdles and warn slower-growth Europe exposure could crimp U.S. investor interest

** "We are not convinced that such a deal is what investors have been waiting for," Kepler says, adding US investors may be reluctant to own a European telco asset with weaker KPIs

** JPMorgan says the idea could unsettle investors and risks adding uncertainty: "Coming at a time of elevated US overhangs this may create an additional hurdle to fresh money buying into the DT equity story"

** Deutsche Telekom is the majority shareholder in T-Mobile, with a nearly 53% stake, according to LSEG data

** At 0921 GMT, Deutsche Telekom shares sit at the bottom of the German blue‑chip index GDAXI .GDAXI. Stock up ~1% YTD

** TMUS fell 1.5% on Tuesday

 (Reporting by Emanuele Berro)

 ((emanuele.berro@thomsonreuters.com))