Deutsche Telekom says too early to see Trump impact M&A in U.S.

November 10, 2016 9:43 AM EST

People walk past the logo of German telecommunications giant Deutsche Telekom AG seen at the Telekom's headquarters in Bonn February 25, 2016. REUTERS/Wolfgang Rattay/File Photo

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FRANKFURT (Reuters) - Deutsche Telekom said on Thursday it was too early to say whether the election of Donald Trump as the new president of the United States would be positive for merger and acquisition deals.

Shares in T-Mobile US (NASDAQ: TMUS), of which Deutsche Telekom owns almost 65 percent, hit an all-time high of $53.01 on Wednesday as investors speculated the new administration could be more open to mergers between carriers.

A deal to merge T-Mobile US with its peer Sprint (NYSE: S) was blocked by regulators more than two years ago.

"The market reacted heavily," chief executive Tim Hoettges told analysts, adding that Deutsche Telekom would remain open-minded to benefit from potential consolidation in the market.

"It is just far too early to speculate what the new administration would look like," he said.

Hoettges said he continued to believe a merger between two U.S. mobile operators would have "huge" benefits for consumers but would also create cost synergies for the companies.

(Reporting by Harro ten Wolde; Editing by Victoria Bryan)

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