August 8, 2019 / 8:11 AM / 4 months ago

Deutsche Telekom: U.S. DoJ backing for T-Mobile-Sprint deal a major milestone

A wireless home phone in brand magenta colour of Deutsche Telekom is pictured in the shop, at headquarters of the German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - Deutsche Telekom (DTEGn.DE) said on Thursday that the U.S. Department of Justice’s support for its T-Mobile US (TMUS.O) unit to merge with Sprint (S.N) was a major milestone, and that it was committed to growing the combined business.

“Our plans to build a bigger, stronger T-Mobile remain unchanged,” CEO Tim Hoettges said in prepared remarks for a call with journalists.

“This is confirmed by the expected synergies with a net present value of around $43 billion on the cost and capex side.”

Reporting by Douglas Busvine, editing by Riham Alkousaa

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