Deutsche Telekom: Record Viewership and Labour Peace Can't Halt 6% Weekly Slide
20.06.2026 - 17:32:44 | boerse-global.de
Deutsche Telekom has delivered a string of upbeat operational developments in recent days, from a blockbuster World Cup audience on its MagentaTV platform to a finalised labour agreement covering 60,000 staff. Yet the stock continues to drift lower, settling at €26.72 on Friday and losing nearly 6% over the week. The 52-week low of €25.99 is now only a few percentage points away.
MagentaTV posted historic numbers during the first seven days of the tournament, with 36 million viewers tuning in for the group stage. The France-Senegal match attracted a peak audience of 6.5 million, a new record for a single game. Deutsche Telekom is the only provider broadcasting all 104 fixtures live, 44 of them exclusively. Pay-TV subscription sales have more than doubled compared with the European Championship two years ago. TV chief Arnim Butzen described it as the best week in the channel’s history.
On the labour front, a major source of uncertainty has been removed. The ver.di union announced on Friday that more than 80% of its members had voted in favour of the negotiated wage package. The deal guarantees no compulsory redundancies for the roughly 60,000 tariff employees through the end of 2028, providing Bonn with multi-year planning security. The accord follows an earlier round of talks that had raised concerns about potential strikes.
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Elsewhere, the group’s corporate client unit T-Systems is stepping up its technology push. A new partnership with the supply-chain platform SupplyOn aims to automate procurement and logistics across European industries using artificial intelligence. The data processing will take place in a secure Munich data centre, complying with strict European data regulations.
The strong performance of the US subsidiary T-Mobile US continues to generate reliable cash flows. The American arm will pay a quarterly dividend of $1.02 per share in September, channelling steady income back to the parent company in Germany. That should help underpin the group’s overall financial profile, even if the domestic stock market remains unimpressed.
Technical indicators paint a worsening picture. The Relative Strength Index stands at 33.3, approaching what chartists consider oversold territory. The share price is trading noticeably below its long-term moving average, and if the support level at €25.99 gives way, further selling pressure is likely. The next major event on the calendar is the second-quarter earnings release on 6 August, when management will quantify the financial impact of the TV records and the reliable US dividend streams.
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