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DEUTSCHE TELEKOM AG

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Deutsche Telekom 'open for industrial partners' for towers - CEO

11/18/2021 | 02:30pm EST

LONDON, Nov 18 (Reuters) - The CEO of Deutsche Telekom said he was open to finding an industrial partner for its towers infrastructure, days after Vodafone said it would consider opportunities for such a move for its recently-listed towers business.

"I'd love to have an industrial partner and I'm willing to deconsolidate," Tim Hoettges told the Morgan Stanley European Technology, Media and Telecoms conference on Thursday.

But he said he wanted to retain a role in the decision making that would follow a deal, particularly in influencing any further mergers and acquistion.

"Deconsolidation makes to me total sense - I always said that by the way, I always said a minority IPO path doesn't make sense," he told the online conference.

"Second, I prefer an industrial solution, but I always need two to tango."

"I'm open for partners," he added. "Let's find a good logic for this."

Britain's Vodafone listed its towers business in Frankfurt in March, selling 19% of the business to new investors.

While selling towers outright would bring in piles of cash, many telecoms firms are looking to spin off tower businesses, or launch joint ventures with independent companies, as a way to keep a chunk of potential future growth. (Reporting by Paul Sandle; editing by Jonathan Oatis)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG -0.40% 15.962 Delayed Quote.-2.07%
VODAFONE GROUP PLC 0.97% 118.48 Delayed Quote.5.36%
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Financials
Sales 2021 108 B 123 B 123 B
Net income 2021 5 745 M 6 559 M 6 559 M
Net Debt 2021 130 B 148 B 148 B
P/E ratio 2021 15,6x
Yield 2021 3,93%
Capitalization 75 715 M 86 482 M 86 444 M
EV / Sales 2021 1,90x
EV / Sales 2022 1,84x
Nbr of Employees 216 265
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Number of Analysts 24
Last Close Price 15,96 €
Average target price 22,63 €
Spread / Average Target 41,8%
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Managers and Directors
Timotheus H÷ttges Chairman-Management Board & CEO
Christian P. Illek Chief Financial Officer
Ulrich Lehner Chairman-Supervisory Board
Claudia Nemat Chief Technology & Innovation Officer
Lothar Schr÷der Vice Chairman-Supervisory Board