Although Deutsche Telekom's shares have remained below the price that could have voided the deal, the German telecommunications company's acquisition of VoiceStream Wireless is expected to close today.
Published:
31 May 2001 y., Thursday
Although Deutsche Telekom's shares have remained below the price that could have voided the deal, the German telecommunications company's acquisition of VoiceStream Wireless is expected to close today.
The Bellevue-based wireless carrier is planning a news conference and employee event tomorrow with Chief Executive John Stanton and Deutsche Telekom Chief Executive Ron Sommer.
If Deutsche Telekom's share price stayed below 33 euros for seven of the 15 days before Tuesday - as it did - VoiceStream could have sent the German company a notice to terminate the deal. There are no indications that such a notice has been sent.
Since February, Deutsche Telekom's share price has remained below 33 euros, closing at 23.81 euros yesterday. VoiceStream's shares closed yesterday at $89.40, a level that would give shareholders a 6.6 percent premium under the deal. According to the terms, VoiceStream shareholders will receive 3.2 shares of Deutsche Telekom and $30 cash, plus a stock dividend of 0.75 percent for each VoiceStream share.
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