Deutsche Telekom will dictate any Sistema deal

10 Nov 2006

German incumbent Deutsche Telekom (DT) has said that any proposed deal with Russian holding company Sistema would be on its own terms. An approach to DT’s board for an asset swap with Sistema was rejected, according to one source, although officially DT has declined to comment, and Sistema themselves denied such an approach had taken place. Market speculators have suggested that the Russian conglomerate will team up with US investment firm Blackstone, which already owns 4.5% of DT and are reported to be impressed with the German telco’s nine-month results published yesterday.

Germany, Deutsche Telekom (DT)