April 30, 2018 / 1:00 PM / a year ago

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

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

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.

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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