The Strategist

German authorities sell €2.5bn worth of Deutsche Telekom shares

06/04/2024 - 11:07

110 million shares of the telecom giant Deutsche Telekom AG are being offered for sale by the German state development bank Kreditanstalt für Wiederaufbau (KfW) for a total estimated price of €2.5 billion, the bank announced in a press statement.

Elizabeth K. Joseph
Elizabeth K. Joseph
The bids for the securities have already been collected, and the transactions were officially closed on June 4th. Consequently, the German government will still maintain the largest holding in Deutsche Telekom, with the state's portion dropping to 27.8%.

Germany's railway infrastructure will be developed with the money raised from the sale of the shares.

The price of Deutsche Telekom securities is down 2.2% in early Tuesday trading. The company's capitalization has grown by 4.1% to €112.56 billion since the year's commencement.