Deutsche Telekom: Barclays raises target price

(CercleFinance.com) - Barclays has raised its target price on the Deutsche Telekom share from 16.
80 euros to 17.60 euros after the US Department of Justice approved the merger of T-Mobile and Sprint on Friday.

"The deal cannot close until the suit filed by the states is resolved but the odds of a positive outcome have greatly increased," the broker writes in a note.

"The deal approval comes with remedies that are more stringent than initially expected at the time of the announcement, but overall we still see the deal, if it closes, as a positive," it adds, maintaining its "equal weight" rating on the shares of T-Mobile's parent company Deutsche Telekom.

Under the terms of the settlement proposed by the Department of Justice, T-Mobile and Sprint must divest Sprint's prepaid business to satellite television provider Dish.

Under the deal, T-Mobile will also have to provide Dish with access to its network for a period of seven years while Dish builds out its own 5G network.

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