Deutsche Telekom could sell British ops
GERMAN phone network Deutsche Telekom could pull out of telco hybrid Everything Everywhere in a bid to raise cash after its attempt to sell T-Mobile USA to AT&T fell through.
The largest telephone company in Germany is said to be in early stages of considering the sale of T-Mobile UK, although Deutsche Telekom has not yet appointed banks to advise the deal.
Deutsche Telekom and Everything Everywhere declined to comment.
However, a Deutsche Telekom spokesperson pointed out the group is not in desperate need of money and has no need to look for cash due to stable balance sheets.
Similar rumours circulated in late 2011, when AT&T’s $39bn stock and cash offer to buy T-Mobile USA was called off on strong opposition from the FCC, America’s communications regulator.
Everything Everywhere was formed in 2010, when the British divisions of France Telecom (Orange) and Deutsche Telekom (T-Mobile) joined forces to create the UK’s largest mobile operator by customer numbers.