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Industry: Email Alert RSS FeedDeutsche Telekom tries to calm investors as stock slides.
RCR Wireless News, September, 2001 by MOONEY, ELIZABETH V.
NEW YORK--Deutsche Telekom Chief Executive Officer Ron Sommer spent an evening last week explaining the reasons for the company's recent stock price decline to Hans Eichel, Finance Minister of Germany, which owns 43 percent of the carrier.
At a press conference the next day, Sommer and other senior DT executives released semi-annual results and a strategy for growth and debt reduction designed to allay investor concerns about a large sell-off of Deutsche Telekom's stock following the May 31 closing of its VoiceStream Wireless Corp. and Powertel Inc. acquisitions.
A day after affirming its "buy" recommendation for DT stock, Deutsche Bank sold 44 million, or 1 percent of the carrier's shares, of which Hutchison Whampoa Ltd. owned 35 million. The...
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