DT to exit NYSE in June

22 Apr 2010

German telecoms group Deutsche Telekom (DT) has announced it intends to delist its shares from the New York Stock Exchange (NYSE) and terminate its reporting obligations with the Securities and Exchange Commission (SEC). The company’s management board has approved the delisting, which is expected to become effective on or around 21 June 2010, following the close of the market in New York. DT said the main purpose behind the exit is to reduce complexity in financial reporting and administrative costs. The firm’s shares will continue to be traded on the Frankfurt Stock Exchange, as well as on the German regional stock exchanges.

Germany, Deutsche Telekom (DT)