Former D.Telekom CEO in talks for job at U.S. buyout firm-source

FRANKFURT Wed May 21, 2014 9:21am EDT

FRANKFURT May 21 (Reuters) - The former chief executive of Deutsche Telekom is in talks to take a job as a senior adviser with U.S. buyout group General Atlantic, a person familiar with the negotiations told Reuters on Wednesday.

The talks could result in a deal, the person said, "but there is nothing imminent."

German business monthly Manager Magazin reported the news earlier on Wednesday.

Rene Obermann, former CEO of Deutsche Telekom, had taken up a top job at Dutch cable operator Ziggo in January, but found himself back on the job market after the firm agreed a takeover offer from U.S. firm Liberty Global only weeks later.

Private equity firm General Atlantic focuses on companies in the technology and media industry. Among others, the group works with German publisher Axel Springer in the advertising business.

Working for an investment firm would not really fit with Obermann's earlier stated ambitions.

After announcing in December that he would leave Deutsche Telekom after six years at the helm, he said he wanted to work for a smaller company where he could be "closer to the engine room", giving him more time for technology and products.

General Atlantic and Ziggo declined to comment. (Reporting by Peter Maushagen; Writing by Kirsti Knolle; Editing by Philipp Halstrick and Mark Potter)