Deutsche Telekom Faces Investor Pushback as Buybacks Continue and T-Mobile US Revamp Draws Scrutiny
Published on 07/17/2026 at 07:22 | Redaktion boerse-global.de
Deutsche Telekom’s capital return machine keeps running, even as a separate strategic dispute over the future of T-Mobile US gathers pace. Between 6 and 10 July 2026, the group bought back 2,321,535 of its own shares over Xetra, extending a programme that was first launched on 1 July and runs until 30 September 2026.
The latest purchases follow an earlier disclosure covering 1 to 3 July, when the company repurchased 908,705 shares at an average price of EUR 24.74. For the current tranche, Deutsche Telekom has set a volume of up to EUR 560 million, part of a wider EUR 2 billion buyback plan for the year. The company is using the programme to reduce the number of shares in circulation and, in turn, support earnings per share on a mechanical basis.
At the same time, the group is facing resistance over a possible restructuring of its US business. According to media reports cited by Spiegel and Bloomberg, major shareholders including DJE Kapital, as well as the German government with its stake of around 28 percent, are opposed to a full merger via a new holding structure. Investors are said to fear that such a move could damage the market value of the group by undermining the valuation advantages created by the separate listings. No official confirmation or final management plan has been presented so far.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
T-Mobile US is meanwhile pressing ahead with operational changes of its own. Since 14 July, it has been migrating an estimated eight million existing customers to higher-priced 5G “Experience” plans in an effort to lift average revenue per user. There has also been a management change: Chris Sambar, formerly with AT&T, is due to take over the newly created role of chief enterprise officer no later than 14 October, while Mike Katz stepped down from his position as chief business & product officer on 8 July.
UBS remained constructive on the stock on 13 July, reiterating its “Buy” recommendation. The bank attached a price target of EUR 36.20, while the secondary report placed the target at EUR 36.00. The shares closed on Thursday at EUR 26.70 and EUR 26.72 respectively, with both accounts pointing to a modest weekly gain of 1.91 percent or 1.98 percent. One report said the stock has climbed 13.42 percent from its 52-week low of EUR 23.54, reached at the end of June. The other noted it remains more than a fifth below the 52-week high of EUR 34.35, set at the end of February, and also below its 50-day moving average of EUR 27.31.
Deutsche Telekom had already sharpened its outlook in May, guiding for adjusted EBITDA AL of around EUR 47.5 billion and free cash flow AL of about EUR 19.8 billion for the current financial year.
Investors now have two key dates in focus. T-Mobile US reports second-quarter numbers on 23 July, and Deutsche Telekom publishes its second-quarter and first-half 2026 results on 6 August. A further quarterly update from the German group is scheduled for 5 November 2026. Until then, the weekly buyback disclosures are likely to remain a closely watched signal of how management views its own equity, even as debate over the group’s US structure intensifies.
Ad
Deutsche Telekom Stock: New Analysis - 17 July
Fresh Deutsche Telekom information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
