Germany completes EUR5 billion post and telecoms sell-off

19 Jul 2005

The German government has sold a 7.3% stake in Deutsche Telekom (DT) to state-owned development bank KfW Group to help reduce debts. The move was part of a sale of around EUR5 billion worth of state-held shares in the country’s postal and telecoms companies, and increases KfW’s stake in DT to 22.1%. The government now holds around 15.4% of DT; Finance Minister Hans Eichel has pledged to sell all state-owned stock in the former monopoly telco by the end of 2006.

Germany, Deutsche Telekom (DT)