Deutsche Telekom (DT) has decided to split its real estate holding, DeTe Immobilien, into a facility management (FM) division and an asset management (AM) division. For the management of the latter, a new holding will be set up in a joint venture with Morgan Stanley Dean Witter and Corpus.
The aim is to reduce overheads through the joint development of planning strategies and a joint marketing campaign to sell property to third parties. The FM division, incorporating maintenance and administrative services, will continue to be the responsibility of DeTe.
The income from the real estate portfolio, valued at €17.3bn (DM34bn), will help reduce DT’s debts, which have seen a large increase as a result of the company’s participation in mobile phone licence auctions.
Handelsblatt, 01 December 2000 p22
