Deutsche Telekom Buys Back Nearly a Million Shares in Three Days as Stock Hovers Near the Floor
Published on 07/09/2026 at 11:16 | Redaktion boerse-global.de
Deutsche Telekom has scooped up 908,705 of its own shares in just the first three trading days of July, spending roughly €22.48 million to keep the buyback machine running while the stock trades just a few percentage points above its 2023 low. The transactions, executed exclusively through the Xetra electronic trading platform on the Frankfurt exchange, represent the latest chunk of a buyback program that has been running since the start of the year.
The telecom giant’s current repurchase tranche authorises the purchase of up to €560 million in stock through the end of September, with a hard cap of 23.5 million shares. That tranche sits inside a larger programme that extends to the end of 2026 and has a total envelope of €2 billion. By reducing the number of freely traded shares, the buyback mechanically lifts earnings per share — an effect the company is counting on as its equity price struggles to find lasting traction.
The stock closed Wednesday at €25.54, a modest 1.35% gain on the week but still 8.10% lower over the past 30 days. On a year-to-date basis the shares are down 8.36%, and the 12-month decline runs to 17.88%. Even after a short-lived bounce from the year’s low of €23.54 touched on June 30, the current price sits 25.65% below the 52-week high of €34.35 set on February 27.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Barclays analysts trimmed their price target on Deutsche Telekom in July from €39.50 to €36.50, yet they kept their buy recommendation intact. Even at the reduced target, the implied upside from current levels remains substantial. Technical indicators, however, tell a more cautious story: the stock is trading well below its 50-day moving average at €27.40, and the relative-strength index sits near 38, a level that suggests slightly oversold conditions but no automatic trigger for a sustained rebound. Volatility in the 30-day window stands at roughly 30%, leaving the shares vulnerable to sharp swings either way.
The buyback is not the only capital deployment on the agenda. Deutsche Telekom continues to push forward with network investment in Germany, taking over a previously stalled fibre project in the town of Nachrodt-Wiblingwerde that will connect roughly 2,000 households and businesses. Construction is scheduled to begin by October. Across the Atlantic, T-Mobile US, the group’s American subsidiary, is winding down its legacy 2G network from August 3, freeing up spectrum that will be repurposed for 5G and eventual 6G services.
With the next quarterly earnings report due on August 6, management’s visible signal to shareholders in the meantime remains the steady stream of repurchases. The market, however, continues to price in a cautious outlook — one that the company is betting the buyback programme, combined with infrastructure spend, can eventually reverse.
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