Deutsche Telekom slipped out of its comfort zone on leverage in the third quarter due to paper losses on hedges taken out to pay for U.S. unit T-Mobile's acquisition of Sprint, CEO Tim Hoettges said on Wednesday. "The net debt was higher than we thought - over 3 billion euros ($3.3 billion) higher," Hoettges told the Morgan Stanley European TMT Conference in Barcelona, attributing the losses to a strong dollar and declining U.S. interest rates. Deutsche Telekom's net debt rose to 78.8 billion euros in the quarter, lifting its leverage ratio to 2.8 times core earnings.
My father, Keith, was one of the first electrical engineers to work in television, which meant that when I was young I was often taken to BBC Television Centre at White City to watch enthralled as programmes went out live — as most did in those days. For my birthday one year, I watched a broadcast of Doctor Who with Jon Pertwee as the time traveller.
(Bloomberg Opinion) -- Xavier Niel is supposed to be the bad boy of French telecoms. He never finished college, once ran an online sex-chat service, and shook up incumbents like Orange SA with cheap pricing when he launched Free Mobile in 2012.That makes one element of his push to extend control over Free’s parent Iliad SA particularly surprising: the implicit admission that the Paris-based company is becoming just like any other boring telecom company. It's an overdue acknowledgement of market realities.It all comes down to the dividend. Mobile carriers have appealed to investors over ...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of T-Mobile USA, Inc. New York, November 11, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of T-Mobile USA, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated ...
Deutsche Telekom has cut its dividend despite raising its full-year profit guidance. Europe’s largest telecoms company said it would cut the dividend to 60 euro cents a share from 70 cents last year to reflect the high costs borne in the German 5G spectrum auction as well as uncertainty surrounding the merger of its T-Mobile USA unit with rival Sprint. The German company is the latest European telecoms company to cut its dividend after Vodafone, another big player in the German market, opted to slash its shareholder payout earlier this year.
Deutsche Telekom CEO Tim Hoettges said on Thursday that the company's proposed dividend of 0.60 euros ($0.66) was a new minimum that it would pay whether or not a proposed U.S. merger goes through. "The 60 eurocents announced today is our new minimum dividend amount," Hoettges said in remarks prepared for a call with reporters after Deutsche Telekom said it would lower its 2019 payout from last year's 70 cents. Hoettges said he still firmly believed that U.S. unit T-Mobile's $26.5 billion merger with Sprint, now stalled, would go through although he now expected the deal to close in early ...
Deutsche Telekom said it now expects to pay a dividend of 60 European cents a share, compared with 70 European cents last year, citing unexpectedly high-costs for the mobile spectrum auction in Germany.
Deutsche Telekom on Thursday raised its guidance for core earnings this year as it posted solid third-quarter results, saying it planned to pay an annual dividend of 0.60 euros regardless of whether a proposed U.S. merger goes through. Europe's largest telecoms operator now expects core earnings before interest, taxation, depreciation and amortization after leases (EBITDA AL) of 24.1 billion euros ($26.6 billion). Deutsche Telekom has been lifted by the strong performance of U.S. unit T-Mobile, whose proposed takeover of smaller rival Sprint is on hold pending a court hearing on Dec. 9 into ...
(Bloomberg) -- German Chancellor Angela Merkel’s government is about to unveil plans for a cloud service to allow European companies to avoid storing data with U.S. or Asian rivals such as Amazon.com Inc. or Alibaba Group Holding Ltd.Economy Minister Peter Altmaier will reveal the service -- named Gaia-X after a Greek goddess symbolizing Earth -- at a tech conference Tuesday in Dortmund, Germany. He has worked on the project with officials from companies including SAP SE, Deutsche Telekom AG and Deutsche Bank AG, according to a strategy paper by the Economy Ministry obtained by Bloomberg ...
Austria's telecoms regulator RTR said on Monday bidders in the second auction of 5G licenses will have to commit to roll out fast internet in rural areas, aiming to ensure access for every community in the largely rural and mountainous country. The auction for 700, 1,500 and 2,100 Mhz bands, which will provide data rates needed for autonomous driving and to connect machines and production sites, is planned for spring 2020, RTR chief Klaus Steinmaurer told a news conference in Vienna. In contrast to Austria's first 5G auction of the 3.4 to 3.8 GHz band, which will mainly speed up data ...
Deutsche Telekom is taking back responsibility for corporate telecoms clients from its restructured T-Systems unit, which will emerge as a slimmed-down operation focused on IT and digital services. Adel Al-Saleh, hired at the start of 2018 to staunch losses at T-Systems, told staff on Wednesday that the business would in future be "an integrated end-to-end IT player and reliable enabler for our clients' digitization". American Al-Saleh, who gave himself two years to get the job done, has already acted to reduce T-Systems' German headcount by 5,600, close most local offices and hire 3,000 ...
Deutsche Telekom said on Thursday its 5G mobile network had gone live in five German cities, timing the launch for maximum impact on the opening day of the IFA consumer electronics fair in Berlin. The German market leader paid 2.2 billion euros ($2.5 billion) for 5G spectrum at a recent auction and the regulator has just unlocked access to the 3.6 Gigahertz band that will power its initial 5G offering. Berlin, Munich, Cologne, Bonn and Darmstadt now offer local 5G services with bandwidth of up to 1 gigabit per second - fast enough to download a movie onto a smartphone in a few seconds.
