Deutsche Telekom (DT) has announced the value of its real estate had been reassessed and reduced by €2bn (DM3.9bn) to €15.2bn (DM29.7bn). As a result of this announcement, shares fell to a new 2001 low of €24.80 (DM48.5).
The company intends to sell its real estate portfolio, its stake in Sprint and its cable TV interests in a bid to reduce its debts of €56.4bn (DM110.3bn).
Analysts welcomed DT’s attempt to slash its debts, but expected shares would fall further in the short term until the takeover of Voicestream had been brought to a successful conclusion.
Handelsblatt, 22 February 2001 p24
