{"id":119766,"date":"2021-08-12T11:23:29","date_gmt":"2021-08-12T11:23:29","guid":{"rendered":"https:\/\/fin2me.com\/?p=119766"},"modified":"2021-08-12T11:23:29","modified_gmt":"2021-08-12T11:23:29","slug":"deutsche-telekom-back-in-deal-mode-after-strong-results","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/deutsche-telekom-back-in-deal-mode-after-strong-results\/","title":{"rendered":"Deutsche Telekom back in deal mode after strong results"},"content":{"rendered":"

BERLIN (Reuters) – Deutsche Telekom confirmed it was in active talks to sell its Dutch unit, signaling movement on Thursday on its portfolio of non-core assets as it reported a forecast-beating set of second-quarter results and raised its outlook.<\/p>

FILE PHOTO: A crow rests on the GSM mobile phone antennas of Deutsche Telekom AG atop the German telecoms giant’s headquarters in Bonn, Germany, February 19, 2019. REUTERS\/Wolfgang Rattay <\/figcaption>

Shares in the group, which spans the United States and Europe as well as its German home market, rose 2% to within touching distance of their highest level since the dot-com crash nearly 20 years ago.<\/p>\n

CEO Tim Hoettges, on a call with reporters, said the group was \u201cin the middle of a transaction\u201d to sell its Dutch unit.<\/p>\n

T-Mobile Netherlands has grown in recent years and doubled profits, he said, but as a mobile-only play lacked a strategic fit with Deutsche Telekom\u2019s other European operations that offer \u201cconverged\u201d fixed-line and mobile services.<\/p>\n

\u201cWe will sell if the price is right,\u201d Hoettges said, confirming a Bloomberg report this week that Indian billionaire Mukesh Ambani\u2019s Reliance Industries was in talks to buy T-Mobile Netherlands.<\/p>\n

Hoettges declined to name his price but Bloomberg, citing sources, said Deutsche Telekom was seeking 5 billion euros ($5.9 billion) for the Dutch business.<\/p>\n

He said he was still evaluating options for mobile masts unit Deutsche Funkturm, including a partnership with a large towers company, a partial sale or an initial public offering. No final decision has been taken.<\/p>\n

Hoettges\u2019 comments signaled a renewed appetite for deals after U.S. unit T-Mobile US took over rival Sprint last year – a transaction that has powered growth and profits.<\/p>\n

T-Mobile US beat forecasts and raised its outlook when it reported quarterly results recently – leading Hoettges to follow suit by upping his target for group profits.<\/p>\n

Deutsche Telekom now expects adjusted core profit of more than 37.2 billion euros this year, up by 200 million from its previous view.<\/p>\n

Reported group revenue declined by 1.7% in the quarter and adjusted EBITDA after leases declined by 4.2%, but after accounting for one-off factors such as exchange rate moves, they were up 6.8% and 1.1% respectively on an organic basis.<\/p>\n

Group revenue, core profit and adjusted net profit all comfortably beat consensus estimates in a poll of analysts published by the company, with analysts saying that the non-U.S. business had also outperformed.<\/p>\n

\u201cOverall, this is a strong set of results with lots to like, in our view,\u201d said Georgios Ierodiaconou at Citi. ($1 = 0.8517 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BERLIN (Reuters) – Deutsche Telekom confirmed it was in active talks to sell its Dutch unit, signaling movement on Thursday on its portfolio of non-core […]<\/p>\n","protected":false},"author":3,"featured_media":119765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nDeutsche Telekom back in deal mode after strong results - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/deutsche-telekom-back-in-deal-mode-after-strong-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deutsche Telekom back in deal mode after strong results - Fin2me\" \/>\n<meta property=\"og:description\" content=\"BERLIN (Reuters) – Deutsche Telekom confirmed it was in active talks to sell its Dutch unit, signaling movement on Thursday on its portfolio of non-core [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/deutsche-telekom-back-in-deal-mode-after-strong-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-12T11:23:29+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Deutsche-Telekom-back-in-deal-mode-after-strong-results.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/deutsche-telekom-back-in-deal-mode-after-strong-results\/\",\"url\":\"https:\/\/fin2me.com\/markets\/deutsche-telekom-back-in-deal-mode-after-strong-results\/\",\"name\":\"Deutsche Telekom back in deal mode after strong results - 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