Deutsche Telekom 'discerning' regarding assets sales
Deutsche Telekom AG has said it has decided not to sell its telephone directory business DeTeMedien. The business had been on its list of possible asset sales to help it reduce debt.
Analysts say that a combination of liquidating assets worth €8m, reduced investment levels and job-cuts are among the reasons the company's pressure has eased.
They also say that now the company has reduced its debt to a manageable level, it can rely on free cash flow generation and property assets to lower it further, rather than huge asset sales.
CFO Karl-Gerhard Eick said the company could be discerning regarding its asset sales..
Earlier this year the company had scrapped plans to sell its mobile phone masts business, worth around €1bn.
DeTeMedien was reported to be worth €500-700m.
