Dave Barden

Dave Barden asked about Deutsche Telekom's (DT) intentions regarding their T-Mobile US shares in the stock buyback program and the framework for forecasting this. He also inquired about T-Mobile's strategy for fiber expansion, specifically whether it will rely on existing partnerships or seek new ones.

Answer

CFO Peter Osvaldik stated he could not speak to DT's long-run intentions but noted DT's decision not to sell shares in 2026 reflects conviction in T-Mobile's growth vision. CEO Michael Sievert clarified that T-Mobile's fiber strategy focuses on creating customer and equity value, not just homes passed. While current numbers are based on Lumos and Metronet, T-Mobile is open to new assets and scalable platforms at the right price, emphasizing value creation over arbitrary coverage targets.

Dave Barden from New Street Research asked for clarification on Deutsche Telekom's commitment to not contribute shares to T-Mobile's buyback program and the expected framework. He also inquired about T-Mobile's strategy for future fiber expansion, specifically whether it would rely on existing Lumos and Metronet partnerships or seek new ones.

Answer

Michael Sievert, CEO, stated that T-Mobile is open to new fiber assets and scalable platforms if they are at the right price to create value, emphasizing that current guidance is based on existing Lumos and Metronet expansion. Peter Osvaldik, CFO, explained that he cannot speak for Deutsche Telekom's intentions but noted their statement reflects conviction in T-Mobile's growth vision, which also informs T-Mobile's accelerated Q1 share buybacks.