Telecom Stocks – Goldman Sachs Sells Billion Pack – Economy

The US investment bank Goldman Sachs throws a billion dollar package of Deutsche Telekom shares on the market overnight. The 90 million shares valued at 1.58 billion euros are part of a complex transaction with the Japanese technology investor Softbank, who only bought the Bonn-based telecommunications giant at the beginning of September. At that time, the Japanese got a new 225 million Telekom shares, which they have to hold until the end of 2024. Softbank is now using 90 million of the papers as security for the deal with Goldman Sachs. A Telekom spokesman emphasized that this would not change anything in Softbank’s 4.5 percent stake in the Bonn company.

A month ago, Softbank had become the second largest shareholder in Telekom after the German state. At that time, Telekom boss Tim Höttges spoke of a strategic partnership. The Japanese helped Deutsche Telekom increase its stake in the US subsidiary T-Mobile US to 48.4 from 43.2 percent. Last year, T-Mobile US teamed up with competitor Sprint, which was owned by Softbank.