Deutsche Telekom close to unveiling T-Mobile fate
DEUTSCHE Telekom yesterday said that its second-quarter core profit and sales were in line with expectations, and that it will present its strategy for T-Mobile UK in the coming weeks.
The announcement will end months of speculation over whether the firm will sell its struggling UK operation to one of its competitors.
Earnings in the second quarter rose 8.4 per cent to €5.3bn (£4.5bn) on a sales increase of 7.4 per cent to €16.2bn, driven mainly by the consolidation of its stake in Greek telecoms group OTE, in line with analysts expectations.
Deutsche’s chief executive Rene Obermann reiterated its outlook for the full year, but said that there had been no growth in dollar terms at T-Mobile USA in the second quarter.
He said that, while the company was working to change that in the medium turn, “the turnaround will not be in the third quarter”.