August 9, 2018 / 8:17 AM / 2 months ago

Deutsche Telekom says Netherlands market very difficult

FRANKFURT, Aug 9 (Reuters) - Deutsche Telekom said that market conditions in the Netherlands were very difficult, reinforcing the case behind its bid to buy the Dutch business of Sweden’s Tele2 that is now undergoing a European Union antitrust review.

“If competition is to be invigorated with new convergent products, and above all if the Netherlands wants a fast 5G roll-out, then the country needs a strong third integrated provider,” CFO Thomas Dannenfeldt told a conference call.

Speaking after Bonn-based Deutsche Telekom reported results that were dented by the weak dollar, Dannenfeldt said he expected reported and organic results - the latter stated at constant currency - to converge in the current quarter.

He also said Deutsche Telekom was reaping the benefits of heavy investments in its networks. “High capital expenditure and rising cash flows are not mutually exclusive,” Dannenfeldt said, according to a text of his prepared remarks. (Reporting by Douglas Busvine Editing by Maria Sheahan)

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