Softbank's Claure: We have gained access to upside in Deutsche Telekom stock

BERLIN, Sept 7 (Reuters) - Softbank said on
Tuesday it had gained access to future gains in the Deutsche
Telekom share price through a complex share-swap deal
under which the German group will raise its stake in U.S. unit
T-Mobile.

"I'm a big believer that Deutsche Telekom stock has material
upside in the future," Softbank executive Marcel Claure told a
briefing.

As part of the $7 billion deal announced earlier, Softbank
will exchange T-Mobile shares under a fixed-price option deal
for a 4.5% stake in Deutsche Telekom, which Claure described as
significantly undervalued.
(Reporting by Douglas Busvine, editing by Emma Thomasson)