DT initiates EUR1.7bn share buyback plan

22 Sep 2011

Deutsche Telekom (DT) is looking to buy back 206,371 of its own shares from shareholders in a transaction worth an estimated EUR1.72 billion (USD2.35 billion), Reuters reports. In a statement published today, the German behemoth said it will begin the buyback through the stock exchange on 23 September, with the process scheduled to close on 19 October.

Earlier this year DT indicated it would return around EUR5 billion to shareholders over the next two to three years, pursuant to its sale of T-Mobile USA to AT&T. However, that sale subsequently stalled after the US Department of Justice moved to block the proposed USD39 billion takeover.

Germany, Deutsche Telekom (DT)