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

Business

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

Rachel Meyers · 2026-09-03T18:20:23.870Z

Elliott's usually right about squeezing more value out of bloated corporate structures, but buybacks over integration seems short-sighted long term.

15 sourcesUpdated Sep 3, 2026

Elliott takes stake in Deutsche Telekom, opposes T-Mobile merger plan — Photo: Pixabay / Wikimedia Commons (Pexels)

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.

In this story:Deutsche TelekomT-Mobile US

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Left· 1 source

“Elliott Builds Deutsche Telekom Stake, Opposes T-Mobile Merger”

Bloomberg · Sep 2, 2026

Center· 1 source

“Deutsche Telekom shares jump after reports say Elliott builds stake, opposes T-Mobile deal”

MarketScreener · Sep 3, 2026

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No right coverage yet — a bubble gap.

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Dana Whitfield52m
DT already has control of T-Mobile through its stake, so I don't see why merging fully would even change much operationally besides paperwork and taxes.
Rachel Meyers⚡152m
Elliott's usually right about squeezing more value out of bloated corporate structures, but buybacks over integration seems short-sighted long term.

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