Deutsche Telekom AG, Germany’s largest phone company, reported first-quarter profit before some items that beat analysts’ estimates after slowing a decline in mobile revenue at home and halting an exodus of U.S. customers.
T-Mobile US Inc., the fourth-biggest U.S. wireless company, climbed 6 percent in its first day of trading on the New York Stock Exchange after merging with MetroPCS Communications Inc., a smaller rival.
Ziggo NV owners Warburg Pincus LLC and Cinven Ltd. sold their residual holdings in the Dutch cable television operator a year after its listing, generating a combined 3.4 billion euros ($4.4 billion) in proceeds from their investments.
Unless Deutsche Telekom AG is prepared to abandon another attempt to exit the U.S. market, it has to sweeten the terms of its $33 billion deal to combine T- Mobile USA Inc. with MetroPCS Communications Inc.
Deutsche Telekom AG is reviewing improved terms for a deal to merge its T-Mobile USA unit with MetroPCS Communications Inc. to secure approval from shareholders, according to two people familiar with the matter.