April 30, 2018 / 1:03 PM / 21 days ago

T-Mobile-Sprint deal makes business sense, German finance minister says

BERLIN (Reuters) - German Finance Minister Olaf Scholz said on Monday that the planned takeover of Sprint Corp (S.N) by Deutsche Telekom’s (DTEGn.DE) U.S. unit T-Mobile US (TMUS.O) made sense from a business perspective.

German Finance Minister Olaf Scholz arrives for the Informal meeting of economic and financial affairs ministers (ECOFIN) in Sofia, Bulgaria, April 27, 2018. REUTERS/Stoyan Nenov

Scholz also said: “I welcome the clear statement from Deutsche Telekom that the transaction will not have any impact on its broadband roll-out in Germany and that planned investment of 5 billion euros per year will be carried out without cutbacks.”

Deutsche Telekom (DTEGn.DE) CEO Tim Hoettges expressed confidence on Monday that the $26 billion takeover would clear anti-trust hurdles.

    Reporting by Gernot Heller; Writing by Michelle Martin; Editing by Paul Carrel

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