Deutsche Telekom’s Agreement with SoftBank Group Corp. to Increase Its Ownership Stake in T‑Mobile US Inc.

On September 7, 2021, Deutsche Telekom AG (“Deutsche Telekom”) and SoftBank Group Corp. (“SoftBank”) announced that they have entered into an agreement through which Deutsche Telekom will increase its ownership stake in T-Mobile US Inc. (“TMUS”) in a two-part transaction by 5.3 percent from 43.2 percent to 48.4 percent. This agreement furthers Deutsche Telekom’s strategic objective of increasing its ownership stake in TMUS to more than 50 percent in order to maintain long-term control and consolidation of TMUS. Cravath is representing Deutsche Telekom in connection with the transaction.

The Cravath team is led by partner Richard Hall and included associates Kendra L. Sandidge and Gene Choi on M&A matters; partner C. Daniel Haaren and senior attorney Elizabeth Albert on derivative matters; partner Stephen L. Gordon and associate Cecily Xi on tax matters; and of counsel Christopher J. Kelly on banking matters.