Telekom Hit by Dual Headwinds: 2G Shutdown and SpaceX Rumor as €560M Buyback Fails to Lift Sentiment
Published on 07/06/2026 at 13:32 | Redaktion boerse-global.de
Deutsche Telekom’s stock is caught between a costly restructuring at its US arm and a speculative takeover tale that has market watchers buzzing. The shares are trading at €25.34, still nursing a year-to-date loss of roughly nine percent and sitting more than 26 percent below the February record of €34.35.
The most concrete near-term development is T-Mobile US’s decision to pull the plug on its legacy 2G network on 3 August 2026. The move frees up spectrum for newer standards but also signals the start of a potentially disruptive phase for the US unit, which contributes the bulk of the group’s growth. That date coincides neatly with a separate milestone: on 6 August, Deutsche Telekom will report second-quarter earnings, giving investors their first hard look at how the US business is navigating the competitive landscape.
Meanwhile, a rumor with a jaw-dropping valuation of $320 billion has surfaced, suggesting that SpaceX could be eyeing T-Mobile US as a takeover target. According to a note from TD Cowen, the concept is circulating among traders even though no official confirmation has come from the German parent, the US carrier, or Elon Musk’s spacefaring company. With T-Mobile US’s own market cap hovering around $192–195 billion in early July, any deal at the rumored level would carry a hefty premium.
In its home market, Telekom is quietly cementing a different kind of advantage. A report in manager magazin notes that fiber-optic buildout costs in Germany can be up to seven times higher than in Spain, squeezing smaller rivals. The group is exploiting that pressure to extend its infrastructure lead, prompting some analysts to talk about a creeping return to quasi-monopoly status.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Telekom’s management is not waiting passively for events to unfold. A third tranche of a major buyback program began in early July, with up to €560 million earmarked for share repurchases through the end of September. That follows roughly €1 billion already spent in earlier tranches. Adding to the show of confidence, a board member bought stock worth about €73,000 in late June.
The technical picture, however, remains fragile. The shares are trading roughly eight percent below their 50-day moving average of €27.49 and twelve percent under the 200-day average. With a relative strength index of 38.5, the stock is technically oversold rather than overheated. On the plus side, it has bounced 1.81 percent over the past week and closed Monday at €25.34, a 0.56 percent gain from the previous session.
The broader market backdrop is supportive — the DAX has been hitting fresh records above 25,900 points, lifted by strong German industrial orders and fading expectations of further US rate hikes. Yet Telekom’s own trajectory remains uncertain. The stock hit a 52-week low of €23.54 just days before the buyback announcement, and the year-to-date decline stands at 18.34 percent.
Deutsche Telekom at a turning point? This analysis reveals what investors need to know now.
All eyes are now on the early August calendar, where the 2G shutdown and the Q2 report will provide the next reality check. Whether the buyback can sustain momentum in the face of operational pressure and unconfirmed M&A noise is a question that only the hard numbers can begin to answer.
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