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T-Mobile stock slips on creation of trust allowing SoftBank to cash out some shares

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T-Mobile US Inc. TMUS, +0.07% shares slipped in the extended session Monday after the telecom company said it set up an agreement allowing SoftBank Group Corp. 9984, +0.83% to cash out a portion of its shares. T-Mobile shares slipped 1.5% after hours, following a 0.3% decline to close the regular session at $106.60. The company said it set up a cash mandatory exchangeable trust where it plans to sell 27.9 million shares of common stock, or up to 30 million to cover over-allotments, to the trust, while buying back a similar number of shares from SoftBank.