1. Inhalt
  2. Navigation
  3. Weitere Inhalte
  4. Metanavigation
  5. Suche
  6. Choose from 30 Languages

Business

Telekom Sells Shares in Online Division

German telecommunications giant Deutsche Telekom has sold 100 million shares in its Internet subsidiary T-Online in an effort to ease its huge debt. The shares went for €610 million ($604 million), with Telekom announcing the sale of a further 20 million shares due to heavy over-subscription.

The additional sale will generate a further €122 million while the sale of all 120 million shares is expected to reduce Deutsche Telekom's stake in T-Online to around 71 percent from 81.7 percent at present. In a statement, the company said that "by selling the shares, T-Online's shareholder base will be enlarged and the liquidity of its shares increased. At the same time it's a further step in the reduction of Deutsche Telekom's debt."

The former state-owned monopoly wants to reduce its total net debt to €50 billion by the end of next year from a current level of €64 billion. T-Online and Deutsche Telekom shares reacted positively with both making considerable gains in trading.