BREAKING NEWS

Deutsche Telekom explores sale or IPO of Dutch unit - Manager Magazin

Deutsche Telekom explores sale or IPO of Dutch unit - Manager Magazin
FILE PHOTO: Signal strength of Deutsche Telekom 5G is displayed on a mobile device at the IFA consumer tech fair in Berlin, Germany, September 5, 2019. REUTERS/Hannibal Hanschke -
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Hannibal Hanschke(Reuters)
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BERLIN (Reuters) – Deutsche Telekom <DTEGn.DE> is exploring a sale or an initial public offering of its T-Mobile Netherlands after the division acquired its local rival Tele2 last year, Germany’s Manager Magazin reported on Thursday.

A Deutsche Telekom spokesman declined to comment when contacted by Reuters.

Europe’s largest telecoms group said earlier this month it would cut its dividend for 2019, reflecting uncertainty over the outcome of a proposed U.S. mega-merger and following rival Vodafone <VOD.L> as the industry grapples with the cost of building 5G networks.

T-Mobile Netherlands is – unlike other European units – a part of Telekom’s Group Development unit and not seen as a core asset.

(Reporting by Thomas Seythal and Douglas Busvine in Berlin and Matthias Inverardi in Duesseldorf; Editing by Michelle Martin)

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