Elliott Investment Management acquired a significant stake in Deutsche Telekom. Deutsche Telekom currently serves as the majority shareholder of T-Mobile US. The activist investor opposes a full merger between the two companies.
This potential deal has been under consideration since at least April 2026. Elliott is pushing for alternative measures to increase shareholder value, such as larger share buybacks. The proposed merger would create a single entity valued at approximately $300 billion. T-Mobile leadership previously expressed reservations about the merger due to regulatory and shareholder concerns.