DTE.DE - Deutsche Telekom AG

XETRA - XETRA Delayed price. Currency in EUR
15.00
-0.06 (-0.40%)
At close: 5:35PM CEST
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Previous close15.06
Open15.04
Bid14.99 x 910400
Ask15.00 x 288200
Day's range14.90 - 15.09
52-week range13.35 - 15.88
Volume6,519,827
Avg. volume9,217,461
Market cap71.422B
Beta (3Y monthly)0.25
PE ratio (TTM)34.32
EPS (TTM)0.44
Earnings date8 Aug 2019
Forward dividend & yield0.70 (4.65%)
Ex-dividend date2019-03-29
1y target est17.40
  • Vodafone launches 5G in Germany, challenges D.Telekom on price
    Reuters9 hours ago

    Vodafone launches 5G in Germany, challenges D.Telekom on price

    Vodafone said on Tuesday it was launching 5G services in Germany, taking on Deutsche Telekom by offering cheaper deals and reaching more cities than the market leader that went live last week. Vodafone, which has already launched limited 5G services in its British home market, is switching on 5G antennae in 20 German towns and cities - a figure that Deutsche Telekom only expects to reach next year. "We are democratising 5G," Vodafone's Germany chief Hannes Ametsreiter said in a statement.

  • State AGs fighting T-Mobile, Sprint merger say October trial may not be possible
    Reuters23 hours ago

    State AGs fighting T-Mobile, Sprint merger say October trial may not be possible

    An attorney for the state attorneys general who filed a lawsuit in hopes of stopping T-Mobile's $26 billion merger with Sprint told the judge on Monday that an Oct. 7 trial may not be possible. In a letter to Judge Victor Marrero on Monday, attorney Glenn Pomerantz said that in exchange for the expedited October 7 trial date, the states had been promised materials on a settlement between the Justice Department and the companies by June 28. "Plaintiff states engaged in discussions yesterday with defendants regarding the appropriate trial date and pre-trial schedule and continue to confer with defendants," Pomerantz wrote in his letter.

  • Reutersyesterday

    Deutsche Telekom loses lawsuit over all-you-can-watch video product

    Deutsche Telekom has lost a legal battle to continue offering an all-you-can-watch mobile video product after a court sided with the German regulator, saying it violated European rules on roaming and network neutrality. The appeals court in Muenster ruled that Deutsche Telekom's StreamOn product could no longer be offered in its current form, confirming a lower court decision in favour of restrictions imposed by the Federal Network Agency (BNetzA) in December 2017.

  • Bloomberg6 days ago

    Dish’s Charlie Ergen Can Make or Break T-Moblie-Sprint Deal

    (Bloomberg Opinion) -- Players beware when Charlie Ergen holds all the cards. As T-Mobile US Inc. and Sprint Corp. continue to fight in Washington for their long-awaited merger, the wily satellite-TV billionaire is the companies’ best hope for getting the deal through. Unless, of course, he walks away.Ergen, the 66-year-old chairman and co-founder of Dish Network Corp., has a reputation for being an finicky dealmaker, with a tendency to upset merger processes and then drop out. The former professional poker player would say he’s simply not afraid to fold his cards – or alienate his peers. Case in point: A few years ago, Ergen offered to buy both Sprint and Clearwire, which then turned into a bidding war against Sprint for Clearwire, a collection of wireless-spectrum assets. Ergen ultimately gave up on both pursuits, but not before driving Sprint to pay about 70% more than it initially bid. Sprint got Ergened. Back to present day, and what do you know: Sprint’s fate pretty much rests in Ergen’s hands, as the U.S. Department of Justice determines whether to approve or reject its $59 billion takeover by T-Mobile. Makan Delrahim, the DOJ’s head of antitrust, reportedly wants the companies to divest assets that could be used to create a new viable fourth competitor as a check on the industry’s pricing power. So Ergen, who had been among the merger’s biggest opponents, is now ostensibly ready to be the deal’s savior by acquiring those assets and committing to morphing Dish into a full-fledged wireless carrier. Maybe. Over the years, Ergen had gamed the government auction system to scoop up Dish’s own valuable spectrum licenses, which have a use-it-or-lose-it provision with nearing deadlines. Taking on the scraps from the T-Mobile-Sprint deal could ease that pressure and help Ergen make good on his promises to build a network. But if unnamed sources cited by the New York Post are to be believed, Deutsche Telekom AG, T-Mobile’s parent, is insisting it will only hand those assets to Dish if it vows not to sell more than a 5% stake in itself to a third party such as Google or Amazon.com Inc., which are two giant would-be threats to the industry.It makes sense that T-Mobile’s side would be worried about Dish teaming up with one of those deeper-pocketed companies, as I wrote last month. And agreeing not to do so certainly isn’t in Dish’s best interests. Ergen has said he needs a partner for Dish’s network build-out, which presumably would entail some sort of shared ownership.For that reason, Ergen could just walk away once again. Without him, there may be no T-Mobile-Sprint merger. After all, 13 states and the District of Columbia have sued to block the deal in a trial that may start in October. No deal could also mean T-Mobile turns to Dish to fulfill its spectrum needs.“Charlie is very hard to understand and predict,” billionaire dealmaker John Malone, owner of the Liberty media assets and director emeritus at Charter Communications Inc., said of Ergen a few years ago. “He’s very creative, but he’s a poker player.” (Ironically, Fox Business Network reported that because some at T-Mobile and Sprint are skeptical of Ergen’s dealings with the DOJ, they’re “praying” Charter and Malone will bid for the divested assets.)John Legere, T-Mobile’s outspoken and genial CEO, has been an ideal pitchman for the deal, smoothly handling inquisitions by Congress over the past year and constantly using his highly followed social media channels to promote the merger. But his style may be no match for Ergen’s whimsy. At the end of Legere’s latest episode of “Slow Cooker Sunday” this week – where he demonstrated recipes for Cajun corn on the cob and lemon feta drumsticks – the magenta-apron-wearing executive took a moment to make a wish. I think I know what it was. This may be the week that finally yields a decision from the DOJ, and what that decision will be is still anyone’s guess. But what I can say for certain is something I’ve said many times before: Good luck betting against Charlie Ergen. To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Germany Makes Push for Cloud Service Independent of U.S.
    Bloomberg6 days ago

    Germany Makes Push for Cloud Service Independent of U.S.

    (Bloomberg) -- German Economics Minister Peter Altmaier plans to build up a German cloud service to allow European companies to store data independent of Asian or U.S. rivals such as Amazon.com Inc.“Germany has a right to technological sovereignty,” said Altmaier during a visit to San Francisco. “Data clouds should not only be set up in the U.S. or China, but also in Germany so that European companies, which want secure and reliable data storage, have this option.”Altmaier’s plans are a second attempt to build up an independent German cloud service. Deutsche Telekom AG has been marketing its own cloud as a secure alternative to U.S. platforms, but at the end of 2018 began offering access to Amazon’s data centers in a recognition of its longtime rival’s dominance in Europe.The minister said he’s seeking partners for his planned cloud alliance and is in talks with SAP SE, Deutsche Telekom and other companies. He expects a decision by the companies in the next months, he said.Geopolitical tensions and trade wars are making European politicians cautious about domestic champions ceding control of their data to technology suppliers from the U.S. or China, fearing that providers could deny access to critical information about customers or production, or serve as a venue for rogue agents.Under the Trump Administration’s Cloud Act (or the “Clarifying Lawful Overseas Use of Data Act”) that was signed last year, all U.S. cloud providers can be ordered to provide local authorities data stored on their servers no matter where that data is physically stored. A similar concept has been enshrined in Chinese law since 2017, in which information of citizens must be stored in-country and accessible on demand to the authorities.Agnes Pannier-Runacher, France’s deputy economy minister, said in an interview with Bloomberg in June that European businesses relinquishing control of their data was “a systemic risk” to the competitiveness and sovereignty of an economy.Germany’s central bank has also recently warned the region’s banking sector that the move to shifting data on the cloud will make the industry harder to monitor.(Updated with additional context.)To contact the reporter on this story: Birgit Jennen in Berlin at bjennen1@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, ;Giles Turner at gturner35@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus11 days ago

    TIM to extend 5G services to 6 more Italian cities by year-end

    Italy's biggest phone company, Telecom Italia (TIM), plans to extend 5G services to six more Italian cities as well as dozens of tourist spots and business hubs by the end of the year. It is also negotiating with rival Vodafone to share 5G infrastructure to deliver services at a lower cost across wider areas of the country. TIM has already begun 5G services in Rome, Turin and Naples, is testing them in southern cities of Matera and Bari and plans to move next in Milan, Bologna, Verona and Florence by year-end.

  • Bloomberg12 days ago

    Qualcomm, BMW Triumph in EU Fight Over Connected Car Rules

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Qualcomm Inc., BMW AG, and Deutsche Telekom AG clinched a victory Thursday after European Union member states scrapped new rules mandating WiFi technology as the basis for how future connected cars talk to each other.The ruling is victory for 5G technology as countries around the world prepare for the roll-out of ultra-fast 5G wireless networks, which will power everything from self-driving cars to smart factories.The legislation -- first proposed in March by the European Commission, the bloc’s executive -- aimed to govern how future connected and automated cars in Europe send information between vehicles and infrastructure, in order to communicate about dangerous situations, road works, traffic lights and more.The companies had been urging EU legislators to veto it out of concern it would force them to make additional investments to fit a soon-to-be outdated technology, saying WiFi offers poorer performance than cellular-based technology compatible with future 5G networks.“Member states sent today a strong signal to the commission that technology neutrality should prevail," said Maxime Flament, chief technology officer at the 5G Automotive Association, which includes Qualcomm and Daimler AG as members. "Only a level-playing field between existing technologies will allow safer, more efficient mobility on European roads."The decision by representatives of the EU’s member states, which still needs to be formally rubber-stamped by its ministers on Monday, forces the commission back to the drawing board to come up with a new proposal.In a statement, EU Transport Commissioner Violeta Bulc said she takes "good note" of the decision, stressing the need for an EU-wide cooperative intelligent transport system."We cannot miss this opportunity and lose valuable time to make our roads safer," Bulc said. "We will therefore continue to work together with member states to address their concerns and find a suitable way forward."Volkswagen AG, General Motors Co., and Volvo Group have been proponents of the draft rules favoring WiFi systems, arguing that the industry needs clarity on what systems to use as soon as possible, and that it currently is the only proven technology.(Adds comments from 5GAA, European Commission.)To contact the reporter on this story: Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • T-Mobile on Cusp of Justice Department Approval for Sprint
    Bloomberg13 days ago

    T-Mobile on Cusp of Justice Department Approval for Sprint

    (Bloomberg) -- T-Mobile U.S. Inc. is on the cusp of securing U.S. Justice Department approval for its $26.5 billion merger with Sprint Corp., after establishing the general outlines of asset sales to Dish Network Corp., according to people familiar with the matter.The Justice Department is hammering out final issues with T-Mobile on an agreement aimed at ensuring Dish can become a strong fourth competitor in the U.S. wireless market, said the people, who asked to not be identified because the matter isn’t public. While the sticking points aren’t insurmountable, the Justice Department has yet to bless the arrangement to allow Sprint’s acquisition to proceed.T-Mobile is trying to offer just enough concessions to gain approval but not so many that it creates a formidable rival while the Justice Department is aiming to maximize competition, the people said.Sprint and Dish shares both jumped on Bloomberg’s report. Sprint was up 1.7% to $7 at 12:35 p.m. in New York, while Dish climbed 2.3% to $40.07. T-Mobile climbed less than 1% to $75.94.T-Mobile and Sprint have agreed to sell to Dish some airwaves and Sprint’s pay-as-you-go brands, including Boost, Virgin Mobile and Sprint Prepaid, the people said. Dish would also get a six-to-seven-year wholesale agreement allowing it to sell T-Mobile wireless service under the Dish brand. The package would also include a three-year service agreement from T-Mobile to provide operational support as prepaid customers shift to Dish, according to one of the people.The companies are expected to hash out the unresolved issues around network sharing within a few days, setting them up for a possible decision from the Justice Department as early as next week, they said.CNBC first reported the details of the wholesale agreement as well as potential timing of the Justice Department’s decision.Representatives for T-Mobile, its parent company, Deutsche Telekom AG and the Justice Department declined to comment. A representative for Sprint didn’t have an immediate response to a request for comment.T-Mobile agreed to buy Sprint in April 2018, pitching the transaction as a way to advance the introduction of the next generation of wireless technology known as 5G, a priority of President Donald Trump.Regulatory ConcernsThe companies have already won the support of the Federal Communications Commission, in part by promising to deploy a 5G network that would cover 99% of the U.S. population within six years.They still have to win over Justice Department antitrust chief Makan Delrahim, who wants the No. 3 and No. 4 wireless carriers to shed enough assets to lay the groundwork for a new fourth competitor.Approval from the Justice Department could give the carriers a boost as they contend with a lawsuit filed by a group of state attorneys general who say the deal should be blocked because it will hinder competition and raise prices.Ergen’s AmbitionsThe concessions would be a boon for Charlie Ergen, the billionaire chairman of Dish. Long aware of the inevitable decline of satellite television, he has spent billions of dollars in government auctions to amass wireless airwaves.Gaining a wireless business and some airwaves would bring him closer to building a state-of-the-art network that can send video and other content without the need for cable or a satellite antenna.(Updates with trading in fourth paragraph.)\--With assistance from William Wilkes.To contact the reporters on this story: Nabila Ahmed in New York at nahmed54@bloomberg.net;David McLaughlin in Washington at dmclaughlin9@bloomberg.net;Scott Moritz in New York at smoritz6@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, ;Liana Baker at lbaker75@bloomberg.net, Matthew Monks, Sara FordenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus13 days ago

    Vodafone launches 5G in Britain with unlimited data plans

    Vodafone switched on its 5G network in seven British cities on Wednesday, aiming to set itself apart in its home market from rival EE by offering unlimited data plans that include the high-speed service at no premium. Nick Jeffery, chief executive of Vodafone UK, said offering unlimited data plans to both consumer and business customers would revolutionise the mobile market.

  • Deutsche Telekom, Huawei customer, continues vendor review
    Reuters13 days ago

    Deutsche Telekom, Huawei customer, continues vendor review

    Deutsche Telekom said it was continuing a review of its vendor strategy as it announced the limited launch of 5G services in its home market, where it has partnered with China's Huawei Technologies in trial projects. Asked whether it was taking any action in response to U.S. calls on its allies to exclude Huawei from their networks, executives said they were continuing an ongoing vendor review and were in close contact with regulators and the government. "The most important criterion is network security - and the most important statement to make here is that we should not depend on one vendor," Deutsche Telekom's technology chief Claudia Nemat told a briefing.

  • Reuters - UK Focus13 days ago

    UPDATE 2-Deutsche Telekom first to market in Germany with limited 5G rollout

    BERLIN/FRANKFURT, July 3 (Reuters) - Deutsche Telekom stole a march on its competitors by announcing a limited rollout of 5G services in its German home market on Wednesday, targeting early adopters in cities with the high-speed mobile technology. Existing 5G trials will be opened up to public use in the German capital Berlin and in Bonn, where Deutsche Telekom is headquartered, with four more cities to follow this year.

  • Deutsche Telekom first to market in Germany with limited 5G rollout
    Reuters13 days ago

    Deutsche Telekom first to market in Germany with limited 5G rollout

    BERLIN/FRANKFURT (Reuters) - Deutsche Telekom stole a march on its competitors by announcing a limited rollout of 5G services in its German home market on Wednesday, targeting early adopters in cities with the high-speed mobile technology. Existing 5G trials will be opened up to public use in the German capital Berlin and in Bonn, where Deutsche Telekom is headquartered, with four more cities to follow this year. "Our goal now is to get 5G to the streets, to our customers, as quickly as possible," Deutsche Telekom's Germany head, Dirk Woessner, told a glitzy presentation in Berlin.

  • Department of Justice pushing T-Mobile to give more to Dish, sources say
    CNBC14 days ago

    Department of Justice pushing T-Mobile to give more to Dish, sources say

    The Department of Justice is pushing on Deutsche Telekom to give more concessions to Dish to prop up Charlie Ergen's company as a stronger fourth competitor in the U.S. wireless market.

  • Dish grabs much-needed leverage as it talks to Deutsche Telekom and DOJ about becoming fourth wireless network
    CNBC18 days ago

    Dish grabs much-needed leverage as it talks to Deutsche Telekom and DOJ about becoming fourth wireless network

    The government and T-Mobile executives are in talks with Dish Chairman Charlie Ergen to salvage a T-Mobile merger with Sprint. While Dish may be uniquely suited as a helpful third party, bringing Ergen to deal talks doesn't usually end well.

  • France's Orange raises $616 million with sale of its BT stake
    Reuters18 days ago

    France's Orange raises $616 million with sale of its BT stake

    French telecom giant Orange said it had sold its remaining 2.5% stake in BT, raising net proceeds of 486 million pounds ($616 million) as the former state monopoly faces a battle for market share in France. BT bought 41 million shares in the private placement of France Telecom's 248 million shares, a stake which was worth about 493 million pounds at Thursday's market price. Shares in BT were 2% down at 0720 GMT on Friday, while Orange was almost unchanged following the Thursday placement, on which Citigroup Global Markets was the sole bookrunner.

  • Reuters - UK Focus18 days ago

    UPDATE 1-France's Orange raises $616 mln with sale of its BT stake

    French telecom giant Orange said it had sold its remaining 2.5% stake in BT , raising net proceeds of 486 million pounds ($616 million) as the former state monopoly faces a battle for market share in France. BT bought 41 million shares in the private placement of France Telecom's 248 million shares, a stake which was worth about 493 million pounds at Thursday's market price. Orange ended up with a 4% BT stake in 2014 when the British group bought mobile operator EE, a joint venture between the French company and Germany's Deutsche Telekom.

  • Reuters - UK Focus19 days ago

    UPDATE 2-France's Orange to sell remaining stake in Britain's BT

    BT Group said on Thursday its third-biggest investor Orange would sell its remaining 2.5% stake, valued at over $600 million, in the former British telecoms monopoly. Orange gained the stake when BT bought mobile operator EE, which was a joint venture between the French company and Germany's Deutsche Telekom, in 2016. Orange's rivals Altice Europe, Bouygues Telecom and Iliad are all controlled by billionaires who have failed to consolidate their position in the market through mergers over the past few years.

  • Reuters - UK Focus20 days ago

    UPDATE 1-Vodafone set for EU go-ahead on Liberty Global deal - sources

    Vodafone is set to secure EU antitrust approval for its $22 billion bid for Liberty Global's cable networks in Germany and central Europe after offering concessions in May, people familiar with the matter said on Wednesday. Vodafone, the world's No. 2 mobile operator, is looking to the deal to help it better compete with German market leader Deutsche Telekom. It offered to strengthen rival Telefonica Deutschland by giving it access to its merged high-speed broadband network after the European Commission said the deal may reduce competition in Germany and the Czech Republic.

  • Aggressive Dealmaking Drives Europe's Most Expensive Stock
    Bloomberg20 days ago

    Aggressive Dealmaking Drives Europe's Most Expensive Stock

    (Bloomberg) -- Combining two badly performing industries usually doesn’t make them any better. Yet that’s what’s underpinning Europe’s most expensive stock.Spain’s Cellnex Telecom SA has become the highest-valued stock on the regional benchmark by serving as a landlord to the ailing telecom industry. While real estate and telecom are among the worst performers on the Stoxx 600 Index this year, Cellnex has soared after snapping up towers from carriers eager to convert their assets to cash, helping them keep up with network investments.“They are in a very sweet spot,” Neil Campling, an analyst at Mirabaud, said by phone. “The only worry at the moment for me is that the stock has moved an awful long way in a very, very short space of time.”The tower company model is fairly new to Europe, in contrast with the U.S., where American Tower Corp. and Crown Castle International Corp. began buying communication sites in the mid-1990s. Since its initial public offering in 2015, Cellnex has seized the relatively open field with aggressive dealmaking, spending 2.7 billion euros ($3.1 billion) just last month on more than 10,000 towers in Italy, France and Switzerland.The company looks set to continue its acquisition spree -- it announced on Tuesday the issuance of as much as 850 million euros in a nine-year convertible bond to fund purchases. The company has increased the number of network infrastructure sites in its portfolio by six-fold to about 45,000 in the past 4.5 years, including ones it has agreements on building for clients.Cellnex has gained nearly 60% in the first half, taking this year’s estimated price-to-earnings ratio to an eye-watering 131, according to data compiled by Bloomberg. That’s beyond such high-growth companies as the Dutch payments prodigy Adyen NA, or computer-games maker CD Projekt SA, which is about to publish its most-hyped title ever. Cellnex declined to comment on the valuation.While Cellnex’s expected revenue growth is much slower than the other names at the top, the surveyed 12 analysts estimate its earnings per share to nearly double from 2019 to 2021. Tower stocks have showed up on investors’ radar thanks to their stable cash flows and good visibility: smaller Italian peer Inwit SpA has also had a good year with a 43% gain so far. Tower contracts are usually signed for a decade or two.“There is a premium being paid for corporates that offer visibility,’’ Guy Peddy, an analyst at Macquarie, said by phone. “Cellnex is the only clear, European, free-from-ownership-issues, tower-focused operator.”Cellnex’s biggest shareholder is Italy’s Benetton family, which owns about 30% of the stock via its investment company Edizione. The family is said to be backing former Telecom Italia SpA head Franco Bernabe to replace Marco Patuano as chairman, Bloomberg reported Monday, citing people familiar with the matter.During the stellar run of the second quarter, Cellnex shares have mostly traded above the average price target, leaving analysts to play catch-up. The gap became the widest ever this week at 3 euros and currently implies a 4.8% downside to the stock, according to 27 estimates in a Bloomberg survey.In Europe, the share of telecommunications infrastructure held by independent tower companies is low compared with other regions, according to an April report by accounting and consultancy firm EY and the European Wireless Infrastructure Association (EWIA). The share of independent tower firms was a mere 17% in 2017, compared with 67% in North America and 42% in the Caribbean and Latin America. Operators could free up 28 billion euros if that share grew to 50%, the report estimates.Race to BuyOne risk to Cellnex’s tower campaign across Europe is competition for assets. The region’s emerging tower business is “not a one-horse race,” analysts at Kempen warned in a note last month, saying that Cellnex losing out on deals could lead to investor disappointment. In 2016, American Towers teamed up with Dutch pension fund PGGM Fondsenbeheer BV, beating Cellnex to win Antin Infrastructure Partners’ French phone towers.While American Towers has been more focused on emerging markets since, there’s a possibility that a private equity firm such as KKR & Co. Inc. would join the party, Giles Thorne, an analyst at Jefferies said in a note on Tuesday, keeping his buy rating and raising his price target by more than 50%.“The one candidate that has the assets and scope on paper to replicate Cellnex’s march across Europe is KKR,” Thorne said. “Its actions suggest it doesn’t see the regional synergy case for cross-border M&A. This may yet change.”Additionally, some telecom carriers see network quality as an important competitive advantage and are reluctant to relinquish control of their top sites. Tim Hoettges, chief executive officer of Deutsche Telekom AG -- which is not a client of Cellnex -- has spoken of “golden sites” as a category of differentiating network infrastructure locations the company wouldn’t be willing to share.Yet overall, tower companies are well placed to benefit from industry-specific drivers, including increased data consumption, Josh Sambrook-Smith, a thematic equity analyst at Sarasin & Partners, said by phone.“You have all the other super exciting, long-term trends,” said Sambrook-Smith. “This is just a relatively safe way to play it.”(Updates share prices from the 6th paragraph, chart)To contact the reporter on this story: Kit Rees in London at krees1@bloomberg.netTo contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Kasper Viita, Celeste PerriFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters21 days ago

    Deutsche Telekom wins SK Telecom backing for venture arm; 5G JV agreed

    Deutsche Telekom's venture capital arm said on Tuesday it was closing its second fund to new money after raising $350 million to invest in software service companies that are powering digital transformation. Corporate sponsors SK Telecom of Korea and German optics company Zeiss have joined Deutsche Telekom, HarbourVest, Neuberger Bermann and others in backing the fund, Deutsche Telekom Capital Partners (DTCP) said. SK Telecom's $30 million investment is part of a wider agreement with Deutsche Telekom to set up a joint venture to develop technologies and services for next-generation 5G mobile networks, the Korean company said separately.

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