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Deutsche Telekom still confident on T-Mobile-Sprint deal

The logo of Deutsche Telekom AG is silhouetted against the sun and the clouds on the top of the headquarters of the German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang rattay

BONN, Germany (Reuters) – Deutsche Telekom is still confident of winning approval from the U.S. regulators for the US unit of T-Mobile’s $26 billion deal to take over Sprint, CEO Tim Hoettges said on Thursday.

“I think this deal is good for America and that we, at the end of the day will win approval for the transaction,” Hoettges told the German company’s annual general meeting.

The updating of the shareholders, Hoettges said the clock on a 180-day review of the deal was stopped with 58 days to go. The clock would be restarted on 4 April.

In other comments, Hoettges said that he was confident that a turnaround in Deutsche Telekom’s troubled IT services arm T-Systems was on track.

Deutsche Telekom had no plans, meanwhile, for the removal of a minority interest in great Britain BT pension fund, CFO Christian Illek told shareholders. Deutsche Telekom has said in the past that the 12 percent of the shares in BT is a passive holding company.

Reporting by Nadine Schimroszik; Writing by Douglas Busvine; Editing by Thomas Seythal

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