New York activist hedge fund Elliott Management has built a sizable stake in German telco Deutsche Telekom, according to various reports.
Both the Financial Times and Bloomberg have reported that the investment fund has acquired a stake in the telco, while indicating that it plans to oppose a possible merger between Deutsche Telekom and its US carrier, T-Mobile.
– Paul Lipscombe
Bloomberg reports that Elliott wants Deutsche Telekom to find alternative ways of driving value for shareholders, such as larger share buybacks, sources told the newswire.
It's not clear exactly what size stake Elliott has built up in Deutsche Telekom, though under German securities rules, investors are required to disclose stakes that hit or exceed three percent of a company’s stock.
