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Deutsche Telekom sees no Brexit impact on BT holding

Reuters - UK Focus

FRANKFURT, June 24 (Reuters) - Deutsche Telekom (LSE: 0MPH.L - news) said on Friday it did not expect a drop in the value of its 12-percent stake in peer BT following a British vote to leave the European Union to weigh on its earnings.

Following the vote, BT shares dropped sharply and were down 9.5 percent by 1100 GMT.

Deutsche Telekom became BT's largest shareholder after selling BT its stake in telecoms operator EE, which it co-owned wit France's Orange (LSE: 0OQV.L - news) .

Deutsche Telekom said it still considered its investment in BT to be a "strategic and correct decision". (Reporting by Harro ten Wolde; Editing by Maria Sheahan)