UPDATE 2-Deutsche Telekom says Blackstone cuts stake in company
* Blackstone stake falls to 2.93 percent on Nov. 6
* Blackstone cuts stake by around 65.2 million shares
* About 65.2 mln shares worth around 561 million euros
FRANKFURT, Nov 9 (Reuters) - Blackstone Group has cut its stake in Deutsche Telekom by about a third in a move likely to have notched up a loss for the U.S. private equity group.
Deutsche Telekom said on Friday Blackstone's stake had fallen to 2.93 percent on Nov. 6.
Blackstone declared in early August that its shareholding in Deutsche Telekom was 4.44 percent.
Based on Deutsche Telekom's closing price of 8.60 euros on Nov. 6, the 65.2 million shares sold by Blackstone were worth around 561 million euros ($713 million).
In April 2006, Blackstone bought 192 million shares in the company from the state-owned development bank KfW at 14 euros per share, for a total of 2.68 billion euros.
The 65.2 million shares at that time would have been worth nearly 900 million euros.
A spokesman for Blackstone declined comment to Reuters.
Deutsche Telekom's biggest shareholder is still the German government, which owns a 15 percent direct stake and a 17 percent indirect stake, which is held by KfW.
Deutsche Telekom on Thursday stuck to its 2012 profit and dividend outlook as its third-quarter core result was ahead of expectations, fuelled by its German activities.