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Deutsche Telekom has set its 2026 share buyback at up to €2.0 billion, with purchases that began on January 5, 2026 and shares to be largely cancelled, according to the company’s Investor Relations announcement updated on April 2 and July 1, 2026.
A July 1 EQS capital-markets disclosure detailed the programme’s three tranches: approximately €471.3 million executed in tranche 1 (January 5 to March 26), approximately €543.4 million in tranche 2 (April 2 to June 30), and a third tranche of up to €560 million running from July 1 to September 30, together totalling €2.0 billion. The filings outline timing, ceilings and intended cancellations for the repurchased shares (Investor Relations; EQS disclosure, 01.07.2026).
The frequently cited “€5 billion” pertains to T‑Mobile US, which said it would accelerate first-quarter 2026 repurchases to up to $5.0 billion. That is a separate programme at the U.S. affiliate, not Deutsche Telekom AG’s 2026 buyback (T‑Mobile US transcript, 11.02.2026; MarketBeat highlights).
Deutsche Telekom’s 2026 buyback: confirmed terms and schedule
Deutsche Telekom’s 2026 programme authorises repurchases of up to €2.0 billion, with the shares to be largely cancelled. The company began buying on January 5, 2026, and has structured the programme in three tranches, as specified in the July 1 EQS notice.
Tranche Period Amount 1 Jan 5 – Mar 26, 2026 ≈€471.3m 2 Apr 2 – Jun 30, 2026 ≈€543.4m 3 Jul 1 – Sep 30, 2026 up to €560m
These tranches, together, constitute the full €2.0 billion programme, as communicated by the company (EQS disclosure, 01.07.2026; Investor Relations).
Execution to date and company disclosures
A July 6 capital-markets notification reported that Deutsche Telekom purchased 727,344 shares on June 29–30, 2026 for a combined purchase price of €18,032,760. Cumulatively, the company had repurchased 19,372,365 shares under the 2026 programme through June 30, 2026 (EQS / Börse Frankfurt, 06.07.2026).
The investor communications reiterate that shares acquired are intended to be largely cancelled, aligning the buyback with capital structure management plans (Investor Relations).
Separating the figures: Deutsche Telekom vs T‑Mobile US
T‑Mobile US, a company in which Deutsche Telekom is the majority owner, said it would accelerate first‑quarter 2026 repurchases to up to $5.0 billion, according to its February 11, 2026 call transcript. That dollar figure refers to T‑Mobile US activity and is distinct from Deutsche Telekom AG’s €2.0 billion 2026 buyback (T‑Mobile US transcript; MarketBeat).
What to watch next: tranche 3 timeline and updates
The third tranche, with an upper limit of €560 million, is scheduled to run from July 1 to September 30, 2026. Investors can track weekly execution notices and any programme updates via Deutsche Telekom’s Investor Relations page and EQS filings (Investor Relations; EQS disclosure).
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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