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
European conference promotes regional solutions to global challenges.
more »
Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport.
more »
Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children.
more »
The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports.
more »
The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.
more »
A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness.
more »
The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion).
more »
Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008.
more »
New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit.
more »
The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future.
more »