Deutsche Telekom to pursue acquisitions in Europe - report


August 14 (SeeNews) - Deutsche Telekom AG (ETR:DTE) will continue to pursue its aggressive growth strategy with further acquisitions in Europe after its subsidiary T-Mobile US Inc (NASDAQ:TMUS) completed the takeover of rival Sprint, chief executive Tim Hoettges said on Thursday as cited by newspaper Rheinische Post

The telecoms company is in the best position to pursue European consolidation and act from a position of strength, Hoettges said. 

T-Mobile closed the combination with Sprint in April, two years after agreeing the deal which boosted its clients to nearly 100 million. Now Hoettges aims to take on market leader Verizon which has 120 million clients. 

Thanks to the first-time consolidation of Sprint, Deutsche Telekom's revenue in the second quarter rose by 37.5% to EUR 27 billion (USD 31.95bn) while operating profit before special items soared 56.4% to EUR 9.8 billion. Based on the strong performance driven by Sprint, the forecast for the operating profit in 2020 was increased to EUR 34 billion from the previous EUR 25.5 billion. The hefty profits are needed to repay the mountain of debt, which has risen to EUR 121 billion, and to finance annual investments of EUR 17 billion

(EUR 1.0 = USD 1.183)


Related Businesses
    - - Customer

    Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
    The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement
    Contact Us: 845.230.3000
    Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
    Friday, March 29, 2024