March 16, 2020 / 4:40 PM / 16 days ago

Deutsche Telekom postpones shareholder meeting over coronavirus

FILE PHOTO: A logo of Germany's telecommunications giant Deutsche Telekom AG is seen before the company's annual news conference in Bonn, Germany, March 2, 2017. REUTERS/Wolfgang Rattay

BERLIN (Reuters) - Deutsche Telekom (DTEGn.DE) on Monday postponed its March 26 annual general shareholders meeting due to the coronavirus, saying it planned to hold the gathering during the first eight months of this year as required by law.

Europe’s largest telecoms company has many older shareholders who bought stock after it was privatized 25 years ago and turn out in numbers for its AGM in Bonn. The elderly are most at risk from the flu-like illness caused by coronavirus.

Deutsche Telekom joins carmaker Daimler (DAIGn.DE) and automotive supplier Continental (CONG.DE) in delaying its AGM. It said the postponement would delay a vote on its annual dividend.

Reporting by Douglas Busvine; Editing by Riham Alkousaa

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