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Deutsche Telekom expects move on BT stake within 12 months

·1-min read
FILE PHOTO: Logo of British Telecom (BT) is displayed outside a store in London

BERLIN (Reuters) - Deutsche Telekom is weighing options for its 12% stake in Britain's BT and expects movement within the next 12 months, CEO Tim Hoettges said on Tuesday.

"We have a lot of optionality in the BT business. It's too early to make a decision. We are entertaining all options," Hoettges told a news briefing.

BT is at the centre of speculation after telecoms and cable company Altice acquired a 12.1% stake in June, saying at the time that it did not intend to launch a takeover offer. Deutsche Telekom holds the BT stake in its pension fund.

"I would say that in the next 12 months something is going to happen with the asset because the shareholder side is changing rapidly," Hoettges said in response to a question from an analyst.

(Reporting by Douglas Busvine; Editing by Madeline Chambers)

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