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SoftBank Stock Soars on Deutsche Telekom Share Swap Deal

By
Juro Osawa
· · Source: The Information

SoftBank’s share price jumped 9.9% after the Japanese company announced a deal to acquire a 4.5% stake in Deutsche Telekom while selling part of its stake in T-Mobile US to the German telecom giant. In a statement, SoftBank said that the deal is part of a long-term strategic partnership. The share swap agreement will make SoftBank one of Deutsche Telekom’s largest shareholders with a board...

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