Deutsche Telekom was marked 4% higher by 4:20 pm local time Tuesday, the biggest single-day advance since May 12, and changing hands at €15.67 each and trimming their three-month gain to 5.5%.
The spike followed a report from CNBC, citing sources, that said Sprint and T-Mobile were in "active" talks about a merger and that Deutsche Telekom would "emerge as the majority owner" in the all-stock deal were to go through.
In its last quarterly report, published on August 3, Deutsche Telekom said that T-Mobile US" had 36.158 million post-paid customers and said that "our United States operating segment remained the Groupʼs growth driver with revenue increasing by 13.8%."
CEO Time Hoettges also said earlier this year that "purely theoretically, we can see several advantages to consolidation and convergence," in the U.S. market.
Telecommunications stocks were the best performers in markets Tuesday, Sept. 19, as reports of deal talks between T-Mobile US Inc. and Sprint Corp. triggered a rally.
- T-Mobile, Sprint merger talks reportedly back onZDNet
- Sprint and T-Mobile Are Hashing Out Terms to Bring Deal CloserBloomberg
- Sprint merger talks suggest T-Mobile executives would take controlKansas City Star
- T-Mobile and Sprint are in active talks about a mergerYahoo Finance
- T-Mobile and Sprint are spiking following reports they're discussing a mergerYahoo Finance
- T-Mobile, Sprint in merger talks: CNBCReuters
- T-Mobile, Sprint in merger talks, CNBC reportsSTLtoday.com
- How a trader cashed in on the T-Mobile/Sprint merger talksCNBC
- Sprint and T-Mobile might actually be inching closer to a mergerEngadget