Softbank agrees strategic share swap pact with Deutsche Telekom

TOKYO: Japan's Softbank Group said on Tuesday it had agreed a strategic partnership with Deutsche Telekom, Germany's main telecoms company, which will receive 45 million shares of T-Mobile US for 240 million of its shares.

Deutsch Telekom will receive another 20 million shares of the No.3 US wireless carrier with proceeds from the sale of T-Mobile Netherlands, Softbank said in a statement.

Didi denies reports that Beijing city is coordinating companies to invest in it

The share swap pact will give the Japanese firm access to about 300 million customers, including 95 million who pay for Deutsche Telekom services, it said.