FRANKFURT, Nov 20 (Reuters) - Deutsche Telekom DTEGn.DE, Europe's largest telecoms company, is looking for a partner for its U.S. mobile communications business, German paper Handelsblatt reported, citing unidentified people from the German company.
Deutsche Telekom wants the partner to help finance billions of euros of investment in networks that offer fast data transfers, Handelsblatt reported.
As part of a partnership with a financial investor, the investor might take a stake in Deutsche Telekom’s U.S. unit, Handelsblatt reported.
The company is still in the initial stages of the search for a partner but, for the time being, has abandoned other potential strategies to bolster its U.S. business, the people said, according to the paper.
The German company is no longer considering a share sale and a takeover of rival Sprint-Nextel S.N, unidentified people from within Deutsche Telekom's management said, Handelsblatt reported.
T-Mobile USA, ranked a distant No.4 position in the U.S. mobile market, has been losing ground to bigger companies like Verizon Wireless and AT&T Inc as well as smaller companies like Leap Wireless LEAP.O and MetroPCS.
Deutsche Telekom’s chief operating officer told Reuters at the end of October the company remained committed to the U.S. market. [ID:nN2399093] (Writing by Peter Dinkloh; Editing by Dan Lalor)
Our Standards: The Thomson Reuters Trust Principles.