Development of business in the Group
This section provides important additional information and explains recent changes in the significant events and their effects on the development of business in the Group compared to those described in the 2023 combined management report (2023 Annual Report).
For further information on significant events in the 2023 financial year, please refer to the sections “Group organization,” “Management of the Group,” and “Development of business in the Group” in the 2023 combined management report (2023 Annual Report).
Deutsche Telekom AG’s share buy-back program. In November 2023, we announced that we will buy back shares in Deutsche Telekom AG in 2024 up to a total purchase price of EUR 2 billion under a share buy-back program. The buy-back commenced on January 3, 2024 and will be carried out in several tranches through December 31, 2024. As of March 31, 2024, Deutsche Telekom AG had bought back around 21 million shares with a total volume of around EUR 0.5 billion.
Sale of T‑Mobile US shares by Deutsche Telekom. Since January 2, 2024, Deutsche Telekom has been selling a portion of its T‑Mobile US share portfolio on the market, without jeopardizing its own majority ownership position in T‑Mobile US. As of March 31, 2024, Deutsche Telekom had sold around 12 million T‑Mobile US shares with a total volume of around EUR 1.8 billion.
T‑Mobile US’ shareholder return program from September 2023 continued. On September 6, 2023, T‑Mobile US announced a shareholder return program of up to USD 19 billion that will run from October 1, 2023 through December 31, 2024. The program comprises share buy-backs and dividends to be paid out. The amount available for share buy-backs will be reduced by the amount of any dividends approved.
On January 24, 2024, the T‑Mobile US Board of Directors declared a cash dividend of USD 0.65 per share, which was paid out on March 14, 2024 to the shareholders registered as of close of business on March 1, 2024. EUR 0.4 billion of the cash dividend was attributable to Deutsche Telekom’s stake and EUR 0.4 billion to non-controlling interests in T‑Mobile US. On March 15, 2024, the T‑Mobile US Board of Directors declared a further cash dividend of USD 0.65 per share, which will be paid out on June 13, 2024 to the shareholders registered as of close of business on May 31, 2024. Furthermore, T‑Mobile US bought back around 22 million shares with a total volume of around USD 3.6 billion (EUR 3.3 billion) in the first quarter of 2024.
As of March 31, 2024, USD 11.7 billion (EUR 10.8 billion) remained available to T‑Mobile US under the program.