Germany’s Deutsche Telekom has acquired a majority stake in its U.S.-based wireless subsidiary, T-Mobile, the company announced last week.
The announcement was made by Tim Höttges, the CEO of Deutsche Telekom, during the company’s annual meeting, noting that its ownership in T-Mobile U.S. now stands at 53.9 percent.
“We have the majority and are the largest shareholder of the world’s most valuable telecommunications company,” Höttges affirmed during the meeting.
Last August, the Wall Street Journal said Deutsche Telekom was interested in acquiring a majority stake in T-Mobile U.S. At the time, its stake in the company was 48.4 percent. The American wireless company accounted for nearly two-thirds of Deutsche Telekom’s net revenue, the Journal said.
The American business is having a ripple effect in Germany, with Deutsche Telekom investing heavily in laying its own fiber lines throughout the country. In Germany, Deutsche Telekom provides wireless service under the T-Mobile brand, and it also offers land-based home Internet and television service. The company is hoping to ditch its traditional, cable-based pay TV service in favor of an all-out streaming service, according to some reports.
In the United States, T-Mobile has differentiated itself from its two main competitors by claiming to be most-rebellious. The initiative, called “Un-Carrier,” has seen T-Mobile grab customers by offering unlimited wireless phone plans coupled with perks like free access to Netflix, Paramount Plus and Apple TV Plus; in-flight Internet on domestic flights; and unlimited talk and text in Mexico, Canada and other countries.
As of February, T-Mobile counted over 113.6 million customers in the United States.
