Deutsche Telekom (DT) has reportedly transferred its 67% stake in T-Mobile US to a Dutch holding company, fuelling speculation that it is considering offloading its US business. Nevertheless, DT has stressed that the asset transfer – between T-Mobile Global Holding of Germany and Netherlands-based Deutsche Telekom Holding – is merely part of a larger internal restructuring process designed to simplify its business structure, and warned that the move should not be interpreted as anything else. According to Reuters, the transfer was ‘quietly disclosed to US’ regulators on Wednesday, but has done little to temper speculation that Japan’s Softbank Corp is looking to merge T-Mobile US with its US unit Sprint Corp. Elsewhere, the German company has said that it is also in the process of transferring ownership of its Hungarian and Czech assets to Deutsche Telekom Holding.
In related news, the Wall Street Journal has reported that Softbank/Sprint have moved a step closer to making an offer for T-Mobile US after securing financing proposals from two separate banks. The bids, which have not been finalised, call for a total deal of about USD50 billion, with USD31 billion being paid to DT for T-Mobile and another USD20 billion being used for refinancing existing T-Mobile debt.