Within a public offering of Sprint PCS shares Deutsche Telekom has sold approximately 49.6 million Sprint PCS shares (excluding allotment option) at a price of US $ 24,50 per share.
Should the underwriters exercise the 15% over-allotment option in full (additional approximately 7.4 million shares), Deutsche Telekom will be selling substantially all of its stake in Sprint PCS with net proceeds of approximately Euro 1.6 billion (approximately Euro 1.4 billion before over-allotment) net of the underwriters discount and commissions.