Other transactions that had no effect on the composition of the Group
Deutsche Telekom AG’s shareholder remuneration
In the 2025 financial year, Deutsche Telekom AG bought back 65.4 million shares in several tranches as part of a buy-back program, with a total volume of EUR 2.0 billion. The 2025 share buy-back program was completed on December 11, 2025. The approximately 81 million shares bought back under the 2024 program were canceled on August 28, 2025, reducing Deutsche Telekom AG’s share capital by around EUR 208 million.
For further information on the reduction of share capital at Deutsche Telekom AG, please refer to Note 19 “Shareholders’ equity.”
In November 2025, Deutsche Telekom AG announced a new share buy-back program with a total volume of up to EUR 2 billion for the 2026 financial year. The buy-back commenced on January 5, 2026 and will be carried out in several tranches up to the end of 2026. In the period from January 5, 2026 to February 17, 2026, Deutsche Telekom AG bought back around another 9 million shares with a total volume of around EUR 0.3 billion under this share buy-back program.
T‑Mobile US’ shareholder return
In the 2025 financial year, T‑Mobile US completed a further shareholder return program comprising share buy-backs and dividend payments in a total volume of up to USD 14 billion, which ran through December 31, 2025. Under this program, T‑Mobile US bought back around 42.4 million shares with a total volume of USD 9.9 billion (EUR 8.8 billion) in several tranches, and paid out a cash dividend of USD 4.1 billion (EUR 3.7 billion). EUR 2.0 billion of the cash dividends was attributable to Deutsche Telekom’s stake and EUR 1.8 billion to non-controlling interests in T‑Mobile US.
On December 11, 2025, T‑Mobile US announced a new shareholder return program with a total volume of up to USD 14.6 billion for the 2026 financial year, comprising additional share buy-backs and dividends to be paid out, due to run through December 31, 2026. The amount available for share buy-backs is reduced by the amount of any dividends approved by the Board of Directors of T‑Mobile US. In the period from January 1, 2026 to February 6, 2026, T‑Mobile US bought back around 5 million additional shares with a total volume of USD 1.0 billion (EUR 0.8 billion) under this share buy-back program.
Sale of T‑Mobile US shares by Deutsche Telekom
In the reporting period, Deutsche Telekom sold a portion of its T‑Mobile US share portfolio on the market in several tranches, without jeopardizing its own majority ownership position in T‑Mobile US. Under the sales plans, Deutsche Telekom sold 6.4 million T‑Mobile US shares with a total volume of EUR 1.3 billion. On December 30, 2025, the latest valid sales plan was terminated.