As expected, the Q3 figures were fairly decent for DT in Europe.
In parallel TMUS’ FCF is currently exploding. The group will distribute a $3bn dividend in 2023-24 (supposed to grow by c.10% per year). The company has recently bought back $15bn of its own shares and should do the same in 2024.
DT should soon own 55% of TMUS and receive €1.5bn in dividends. The recent increase in its own dividend is just the beginning of a long, quiet river.
