Elliott takes stake in Deutsche Telekom, opposes T-Mobile merger plan

Activist investor Elliott Investment Management has taken a stake in Deutsche Telekom and is pressuring the group to drop its merger plans with its U.S. unit T-Mobile US. Elliott argues that shareholder value would be better unlocked through larger share buybacks and other capital-allocation moves rather than a full integration. Deutsche Telekom owns about 53%-54% of T-Mobile, making any transatlantic consolidation highly complex and controversial among investors. Shares of Deutsche Telekom and T-Mobile rose modestly after the news, signaling market attention to the activist intervention. Strategically, Elliott suggests alternatives such as a significantly expanded buyback program, while management has continued to push the T-Mobile merger as the preferred path. Regulatory and political hurdles in Germany and the United States are cited as major obstacles to any deal, with timelines and plans in flux.