The leading European telecommunications operator, Deutsche Telekom, said Thursday that net profit climbed by seven percent in the third quarter of 2009 and that sales were up by five percent. Net profit reached 959 million euros (1.42 billion dollars) in the three-month period, up from 895 million in the third quarter of 2008, a statement said. Sales gained 5.2 percent to 16.26 billion euros, it added, while core earnings before interest, tax, depreciation and amortization (EBITDA) rose by... Read Full Story
BERLIN (Reuters) - Deutsche Telekom <DTEGn.DE> and France Telecom <FTE.PA> have launched exclusive talks to merge their British mobile units in a joint venture that would grab the top spot in the cut-throat UK market. The partners plan to reach an agreement by the end of October, Deutsche Telekom said on Tuesday. If the talks succeed, the deal would remove one of five operators from the crowded market and help relieve intense competition. Merging Deutsche Telekom's T-Mobile UK with France... Read Full Story
German telecommunications group Deutsche Telekom posted on Thursday a solid jump in its second quarter net profit as it integrated a recent Greek acquisition, and confirmed its full-year targets. Deutsche Telekom recorded a 32 percent hike in profit to 521 million euros (750 million dollars) on sales that increased by 7.4 percent to 16.24 billion euros. Core earnings which the telecoms operator uses in its forecast rose by 8.4 percent from the same period a year earlier to 5.26 billion euros... Read Full Story
German telecommunications group Deutsche Telekom posted on Thursday a 32 percent jump in second quarter net profit and confirmed its full-year targets. Deutsche Telekom recorded a profit of 521 million euros (750 million dollars) on sales that increased by 7.4 percent to 16.24 billion euros. Core earnings which the telecoms operator uses in its forecast rose by 8.4 percent from the same period a year earlier to 5.26 billion euros, slightly better than expected, a statement said. For the... Read Full Story
Germany's biggest bank, Deutsche Bank, is embroiled in another spying scandal in the corporate sector that according to a financial source has led two managers to leave the company amid a probe by prosecutors. The head of security for the bank and its head of investor relations "have left the company," the source told AFP on Tuesday. State prosecutors are checking whether the evidence warrants a formal investigation, but the person in charge is on holiday and "he will only look into it once... Read Full Story
Germany's biggest bank, Deutsche Bank, admitted Monday it had spied on a former member of its supervisory board, suspected of disclosing 2001 third quarter results before their official publication. A bank spokesman said the target was Gerald Herrmann, who represented the union Verdi on the board that year. German magazine Der Spiegel had reported over the weekend that the bank hired detectives to spy on its employees including a member of its supervisory board, managers and a shareholder... Read Full Story
Germany's biggest bank, Deutsche Bank, hired detectives to spy on its employees including a member of its supervisory board, managers and a shareholder, German magazine Der Spiegel reported. The bank launched an internal inquiry at the end of May into potential breaches of data privacy law in connection with the affair, Spiegel said in its latest edition to be published Monday. Chief executive Josef Ackermann promised a "zero tolerance" approach over the affair at an annual general meeting... Read Full Story
The biggest German telecommunications operator, Deutsche Telekom, is looking to swap its loss-making T-Mobile unit in Britain for an asset in another country, a press report said. The Financial Times quoted sources familiar with the matter as saying a swap was considered a "preferred option" to selling the unit outright or merging it with a British rival. But although trading T-Mobile UK for a unit such as Vodafone Turkey, that country's second biggest mobile operator, would be an ideal... Read Full Story
German telecoms giant Deutsche Telekom, is looking to swap its loss-making unit T-Mobile UK for an asset in another country, the FT reported on Friday. Quoting sources familiar with the matter, the FT said a swap was considered a "preferred option" to selling the unit outright or merging it with a British rival. But although trading T-Mobile UK for a unit such as Vodafone Turkey -- the country's second biggest mobile operator there -- might be an ideal solution for Deutsche Telekom, it was... Read Full Story
German telecommunications operator Deutsche Telekom suffered a first-quarter loss of 1.12 billion euros (1.49 billion dollars) owing to a devaluation of its British T-Mobile unit, the company said. In the first quarter of 2008, Deutsche Telekom had posted a profit of 924 million euros, a statement said. But the group had to write down the value of its T-Mobile UK division by 1.8 billion euros owing to "the strong economic slowdown and more intense competition in the United Kingdom." The move... Read Full Story
