Deutsche Telekom approves SoftBank’s plan to acquire T-Mobile US

Deutsche Telekom has agreed to SoftBank’s plan to acquire T-Mobile US, according to local reports.

Masayoshi Son, chairman at SoftBank, proposed a buyout of T-Mobile US – the fourth-largest US carrier – in March this year, and it is now said to have received a positive response from Deutsche Telekom.

The German operator owns 67% of T-Mobile US and its shares were up 0.6% at 13.03 GMT, Reuters reports.

In March this year Deutsche Telekom said it was slashing its free cash flow for 2015, in a bid to win more mobile customers for T-Mobile US.

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