Deutsche Telekom’s CEO Lays Groundwork for Career-Defining Deal

For Deutsche Telekom AG Chief Executive Officer Timotheus Höttges, it’s the challenge of a lifetime — pulling off the largest M&A deal in history.

The company is exploring a combination with T-Mobile US Inc., a long-considered move that would create the largest telecommunications group in the world. Nailing it will require deft diplomacy to secure political backing in Berlin and Washington while persuading investors that a larger group offers greater value than two standalone companies.