Deutsche Telekom eyes more acquisitions: report

Mon Oct 8, 2007 6:01am EDT
 
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FRANKFURT (Reuters) - Deutsche Telekom (DTEGn.DE), which recently bought Orange Netherlands and U.S wireless operator SunCom (TPC.N), is on the lookout for more acquisitions, its chief financial officer told a German newspaper.

"If another opportunity like SunCom comes up in the United States we will be ready to use it," Karl-Gerhard Eick is quoted as saying in an interview with Frankfurter Allgemeine Zeitung published on Monday.

Eick said that the group is also preparing bids through its Croatian and Hungarian subsidiaries for the 49.13 percent stake in Slovenia's leading telecom operator Telekom Sloven (TLSG.LJ) that is up for sale.

Europe's largest telecoms group by sales would also consider re-entering the Russian market should an opportunity arise that would allow it to take a majority stake, the paper reported Eick as saying.

Three years ago Deutsche Telekom exited the Russian market when it sold its last stake in MTS.

The Bonn-based former state monopoly is pursuing growth through acquisitions outside of Germany in the mobile communications business.

Last week its T-Mobile unit completed a 1.3 billion-euro ($1.83 billion) takeover of Orange Netherlands, which it bought from France Telecom (FTE.PA).

Last month T-Mobile USA announced it had agreed to buy smaller U.S. rival SunCom Wireless for $1.6 billion.

Separately, Eick said the company was still in negotiations to find a partner for the systems integration division of its business clients unit T-Systems.

"We need a strong international partner for systems integration. The remaining businesses will stay with T-Systems und will be enlarged," he said.

T-Systems is the smallest of Deutsche Telekom's divisions with around 56,000 employees.

 

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