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KFW Announce Sale Of DT Shares; Not A Spread Mover

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  • KfW today launching the sale of 110mn Deutsche Telekom shares via accelerated bookbuilding, (value of EUR 2.49bn as per yest closing price) bringing the publicly owned stake down to 27.8%.
  • BBG shows just under 5bn shares outstanding for a market cap of EUR 113bn. In Q2 2024, KfW sold 22.4M shares.
  • DT are increasing the max size of their current buyback tranche running from 20 May to no later than 30 Aug by EUR 600mn in response for a total of over 57mn shares.
  • Likely the source of some equity volatility but not a credit event.

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