Deutsche Telekom Shares Rise Amid Elliott's Opposition to T-Mobile Merger

By EC Assets · Published 3 September 2026

Deutsche Telekom AG shares climbed after reports indicated Elliott Investment Management built a stake in the German telecommunications company. Elliott Investment Management reportedly opposes a potential merger between Deutsche Telekom and its American arm, T-Mobile US Inc. The activist investor wants the German telecom giant to abandon these plans. Deutsche Telekom shares opened 1.5% higher on Thursday. This placed them at the top of Germany's blue-chip index. Elliott Investment Management has accumulated a large stake in Deutsche Telekom AG. T-Mobile US Inc. currently trades at 11.4x 2026e free cash flow. This represents its lowest valuation in years. T-Mobile is expected to grow free cash flow by 30% over three years. Some analysts view T-Mobile as more attractive than Deutsche Telekom's European business. This article is intended for informational purposes only. It does not constitute investment advice.