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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Telekom AG    DTE   DE0005557508

DEUTSCHE TELEKOM AG

(DTE)
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Huawei asks Germany not to shut it out of building 5G networks - Der Spiegel

07/31/2020 | 08:05am EST
FILE PHOTO: IFA consumer tech fair in Berlin

Huawei's top manager in Germany has appealed to the government not to shut it out of building 5G mobile networks, Der Spiegel said on Friday, after Britain decided to purge the Chinese firm's equipment from its network on security grounds.

Chancellor Angela Merkel's government has put off a decision on tougher certification rules until after the summer break, amid pressure from some lawmakers who sympathise with U.S. calls to ban Huawei outright.

"The government's approach of setting the same, tough security criteria for all is the right way to ensure networks are secure," Huawei's representative in Germany, David Wang, told the weekly news magazine.

Germany's three mobile operators are all customers of Huawei, which has had a presence in the country for 15 years. None have found any evidence to support U.S. allegations that its equipment is unsafe, Wang added.

Britain this month ordered Huawei equipment to be removed from its 5G network by the end of 2027, while France has told operators to rip out Huawei 5G gear by 2028 without announcing a public ban, sources say.

Deutsche Telekom, the German market leader, began building its 5G network under existing agreements and only signed a contract with the Chinese provider last month. Its 5G network now covers nearly half the population.

Analysts and industry sources say Deutsche Telekom, which opposes a Huawei ban, is seeking to pre-empt a such an outcome by rolling out most of its 5G network before a political decision is taken.

Spanish-controlled Telefonica Deutschland said this week it had signed backup 5G contracts with other telecoms vendors to cover the risk that Huawei ends up being barred from the German market.

(This story corrects context in paragraph 6 on 5G contract between Deutsche Telekom and Huawei)

(Reporting by Douglas Busvine; Editing by Edmund Blair and David Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG -0.66% 15.04 Delayed Quote.3.91%
TELEFONICA DEUTSCHLAND HOLDING AG 1.42% 2.36 Delayed Quote.-9.95%
TELEFONICA S.A. -1.87% 3.667 Delayed Quote.-39.99%
YAGEO CORPORATION 2.33% 460.5 End-of-day quote.5.38%
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Financials
Sales 2020 99 795 M 121 B 121 B
Net income 2020 4 182 M 5 089 M 5 089 M
Net Debt 2020 123 B 150 B 150 B
P/E ratio 2020 18,8x
Yield 2020 3,93%
Capitalization 71 808 M 86 756 M 87 376 M
EV / Sales 2020 1,95x
EV / Sales 2021 1,81x
Nbr of Employees 227 584
Free-Float 67,7%
Chart DEUTSCHE TELEKOM AG
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Deutsche Telekom AG Technical Analysis Chart | DTE | DE0005557508 | MarketScreener
Technical analysis trends DEUTSCHE TELEKOM AG
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 19,22 €
Last Close Price 15,14 €
Spread / Highest target 55,9%
Spread / Average Target 27,0%
Spread / Lowest Target -0,92%
EPS Revisions
Managers
NameTitle
Timotheus Höttges Chief Executive Officer
Ulrich Lehner Chairman-Supervisory Board
Christian P. Illek Chief Financial Officer
Claudia Nemat Head-Technology & Innovation
Lothar Schröder Vice Chairman-Supervisory Board
Sector and Competitors