Voicestream Takeover

Voicestream and Deutsche Telekom has announced an agreed US$55.7 billion takeover of the USA carrier. Deutsche Telekom offered a fixed exchange ratio of 3.2 shares of its stock plus US$30 a share in cash for VoiceStream. Deutsche Telekom says that the German government's shareholding will fall to 45% after the deal, and hopes this will reassure the US government which was worried about a telecoms company being taken over by a company controlled by a foreign government. The company says it already has the backing of over 50% of Voicestream shareholders, as the company is majority owned by just three companies, Hutchison Whampoa, Sonera and Goldman Sachs."

Posted to the site on 24th July 2000