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
The financial crisis is having a serious impact on low-income countries.
more »
The agreement was welcomed by the EU, which has led efforts to crack down on loose banking practices that caused the financial crisis.
more »
On 31 March this year, the boards of AB Bank SNORAS and AB “Invalda” approved of the purchase and sales transaction of AB “Invalda” financial group's companies.
more »
MEPs will vote on Thursday 2 April on a first reading agreement on the voluntary EU Ecolabel (“EU flower”) system for environment-friendly products to become less costly and bureaucratic to use.
more »
The fourth quarter of 2008 was not so good for the banking industry, and the financial conditions of commercial banks and savings and loans is expected to further deteriorate for the rest of 2009 and the first part of 2010, according to LACE Financial Corp.
more »
MEPs recently gave the green light to a new trade deal between Europe and Caribbean countries.
more »
New VoIP Features Boost Flexibility, Mobility, Cost Savings for Organizations Seeking to Untether Workers.
more »
According to the revised data, in IV quarter 2008, GDP at current prices made LTL 28578.8 million and against IV quarter 2007 decreased by 2.2 per cent.
more »
The EP Fisheries Committee rewrote the rules on recreational fishing in its consultative report, adopted Tuesday, on a proposed “control regulation” to ensure compliance with common fisheries policy (CFP) rules.
more »
In a measure of the Union’s strong growth prior to the financial crisis, the demand for EU trademark rights has shot up in recent years, creating an unexpected budget surplus.
more »