© Reuters. FILE PHOTO: Logo of British Telecom (BT) is displayed outside a store in London, Britain, November 15, 2019. REUTERS/Simon Dawson/File Photo
BERLIN (Reuters) – Deutsche Telekom (OTC:) is weighing options for its 12% stake in Britain’s BT and expects movement within the next 12 months, CEO Tim Hoettges said on Tuesday.
“We have a lot of optionality in the BT business. It’s too early to make a decision. We are entertaining all options,” Hoettges told a news briefing.
BT is at the centre of speculation after telecoms and cable company Altice acquired a 12.1% stake in June, saying at the time that it did not intend to launch a takeover offer. Deutsche Telekom holds the BT stake in its pension fund.
“I would say that in the next 12 months something is going to happen with the asset because the shareholder side is changing rapidly,” Hoettges said in response to a question from an analyst.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment