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Deutsche Telekom writes down BT stake by 2.2 bln euros

Reuters - UK Focus

BONN, Germany, March 2 (Reuters) - Deutsche Telekom (IOB: 0MPH.IL - news) wrote down the value of its stake in Britain's BT by 2.2 billion euros ($2.3 billion), pushing it to a fourth-quarter net loss of 2.12 billion euros from a profit of 946 million euros a year earlier.

The German telecoms provider reported a 2 percent increase in fourth-quarter adjusted core profit (EBITDA) to 5.26 billion euros on Thursday, driven by its T-Mobile US unit but also lifted by a 3 percent increase in German adjusted EBITDA.

($1 = 0.9497 euros) (Reporting by Georgina Prodhan; Editing by Maria Sheahan)