Deutsche Telekom cools T-Mobile US merger talk

Deutsche Telekom has decided against making a formal offer to merge with T-Mobile US for now, reportedly due to opposition from its works council and trade unions, which hold 50% of supervisory board seats. The German operator owns close to 53% of T-Mobile US. Activist investor Elliott had pressed it to drop the plan.

• Deutsche Telekom holds close to a 53% stake in T-Mobile US
• Works council and unions hold 50% of supervisory board seats
• Elliott built a stake and urged dropping the merger plan
• A formal offer could still come later