Softbank agrees strategic share swap pact with Deutsche Telekom - Reuters

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SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO, Sept 7 (Reuters) - Japan's Softbank Group (9984.T) said on Tuesday it had agreed a strategic partnership with Deutsche Telekom (DTEGn.DE), Germany's main telecoms company, which will receive 45 million shares of T-Mobile US (TMUS.O) for 240 million of its shares.

Deutsch Telekom will receive another 20 million shares of the No.3 U.S. wireless carrier with proceeds from the sale of T-Mobile Netherlands, Softbank said in a statement.

The share swap pact will give the Japanese firm access to about 300 million customers, including 95 million who pay for Deutsche Telekom services, it said.

Reporting by Tim Kelly; Editing by Clarence Fernandez

Our Standards: The Thomson Reuters Trust Principles.

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