Deutsche Telekom Explores Merger with T-Mobile US

Deutsche Telekom, the German telecommunications giant, is exploring a full merger with its U.S. subsidiary T-Mobile US, a move that could create the world's largest wireless operator by market capitalization and rank as the biggest public merger and acquisition deal in history. The preliminary discussions, reported on April 22, 2026, involve creating a new holding company to acquire shares in both entities, according to sources familiar with the matter.

Deutsche Telekom already holds a 53 percent stake in T-Mobile, which it acquired roots in 2001 through the purchase of VoiceStream Wireless, later rebranded as T-Mobile. The proposed structure would form a single multinational group jointly owned by the current investors of both companies, with potential listings on a U.S. exchange and a major European bourse. The combined entity would have operations across the United States and Europe, boasting a market value of approximately $384 billion, surpassing China Mobile's $235 billion valuation. T-Mobile's market cap stands at about $218 billion, while Deutsche Telekom's is around $166 billion.

The talks remain in early stages, with no certainty of proceeding, as the companies have...