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VoiceStream May Go as D.Telekom Seeks to Cut Debt
Posted: 21-Aug-2002 [Source: Reuters]

[DT may sell or merge VoiceStream in efforts to reduce debt.]

Bonn -- "Deutsche Telekom AG said on Wednesday it needed to raise up to seven billion euros ($6.9 billion) to meet crucial debt targets and signaled it may sell or merge its U.S. mobile unit VoiceStream in the process.

The world's number four telecom carrier also posted core second quarter earnings in line with forecasts as higher prices helped its fixed-line operations to recover from a devastating first quarter, while its mobile unit cut its losses.

"To reach our goal of 50 billion euros (in debt) by the end of 2003, we will need to identify additional measures in the range of four to seven billion euros," Chief Financial Officer Karl-Gerhard Eick told a news conference.


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