Other transactions that had no effect on the composition of the Group
Deutsche Telekom AG’s 2026 share buy-back program
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 through the end of 2026. As of March 31, 2026, Deutsche Telekom AG had bought back 15.6 million shares with a total volume of EUR 0.5 billion. In the period from April 1, 2026 to May 12, 2026, Deutsche Telekom AG bought back around another 8 million shares with a total volume of EUR 0.2 billion under this share buy-back program.
On April 21, 2026, the Board of Management of Deutsche Telekom AG resolved to cancel 55.4 million shares that had been bought back in the 2025 financial year under the share buy-back program, and to decrease the share capital accordingly. The cancellation of these 55.4 million shares was completed on April 29, 2026.
T‑Mobile US’ 2026 shareholder return program
On December 11, 2025, T‑Mobile US had announced a new shareholder return program with a total volume of up to USD 14.6 billion for the 2026 financial year, comprising 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 first three months of 2026, T‑Mobile US bought back 23.3 million shares with a total volume of USD 4.9 billion (EUR 4.2 billion) under this program, and paid out cash dividends amounting to USD 1.1 billion (EUR 1.0 billion). EUR 0.5 billion of the cash dividends was attributable to Deutsche Telekom’s stake and EUR 0.4 billion to non-controlling interests in T‑Mobile US. On March 19, 2026, T‑Mobile US announced that the Board of Directors had declared a cash dividend of USD 1.02 per share, which will be paid out on June 11, 2026. On April 23, 2026, T‑Mobile US announced that its Board of Directors had authorized an increase in the total volume of the program to up to USD 18.2 billion. In the period from April 1, 2026 to April 24, 2026, T‑Mobile US bought back 3.8 million additional shares with a total volume of USD 0.7 billion (EUR 0.6 billion) under this program.
As of March 31, 2026, Deutsche Telekom’s stake in T‑Mobile US amounted to 45.5 %. Taking the treasury shares held by T‑Mobile US into account, Deutsche Telekom had a 53.6 % ownership stake in T‑Mobile US as of March 31, 2026. The shares in T‑Mobile US held by SoftBank are subject to the proxy agreement between SoftBank and Deutsche Telekom. The total percentage of T‑Mobile US shares for which Deutsche Telekom can exercise voting rights, based on the agreement concluded with SoftBank in connection with the acquisition of Sprint, amounted to 54.5 % as of March 31, 2026.