Deutsche Telkom Won't Be Pressured into Putting T-Mobil on the Market
Published:
30 May 2001 y., Wednesday
Despite massive threats from ratings agencies to lower the credit rating of Deutsche Telekom because of its high debts, Telekom does not want to be pressured into putting T-Mobil, its mobile phone subsidiary, on the stock market.
Ron Sommer, the head of the Telekom group, told the news magazine "Der Spiegel" that a credit downgrade would cost Deutsche Telekom "around 90 million euro per year." However, Sommer said, "No one would like to have to pay this amount, but an unsuccessful market entrance would cost much more."
Telekom will therefore examine its general conditions in the fourth quarter and then decide if the time is right for the mobile phone subsidiary to go public. At the Deutsche Telekom general meeting on Tuesday in Cologne, which around 10,000 shareholders are expected to attend, the head of Telekom does not foresee a public tribunal due to the extremely weak stock performance.
According to Sommer, Telekom's real estate affair and the massive devaluation of 3.9 billion German marks on the balance sheet has not had an effect on the performance of the stock and has also not led to a loss of confidence amongst investors.
Šaltinis:
internetnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »