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Deutsche Telekom CEO: We’re well placed to drive…

BERLIN, Aug 13 – Deutsche Telekom is well placed to drive European industry consolidation, CEO Tim Hoettges said on Thursday, thanks to strategic execution that has lifted its market value above that of its peers.

Hoettges said the group’s market capitalisation had grown to 72 billion euros ($85 billion) on his seven-year-old watch, outgrowing European peers Vodafone, Telefonica and Orange.

“We have created a currency (in the form of our shares) that protects us against possible takeovers, and a currency that we can also put to work,” added Hoettges. ($1 = 0.8450 euros) (Reporting by Douglas Busvine Editing by Michelle Martin)

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