Elliott builds stake in Deutsche Telekom

Elliott Investment Management has built a stake in Deutsche Telekom, a person with knowledge of the matter said on Wednesday.

The exact size of the activist investor’s stake in the German telecom company could not be determined.

Bloomberg News, first reporting ‌the news ⁠earlier ⁠on Wednesday, said Elliott indicated that Deutsche Telekom should ditch a potential merger with T-Mobile US and look at other ways to unlock shareholder value, including larger share buybacks.