Blackstone cuts stake in DT

US private equity group Blackstone Partners has reduced its shareholding in Deutsche Telekom (DT) by around a third. Reuters cites the German telecoms group as saying that Blackstone had cut its stake by approximately 65.2 million shares from 4.44% to 2.93% on 6 November. The private equity firm Blackstone bought 192 million shares in DT from state-owned development bank KfW in April 2006 for a total of EUR2.68 billion (USD3.5 billion).