A bad telecoms merger.(Deutsche Telekom and Telecom Italia)(Brief Article)
Economist (US), The, April, 1999
The proposed merger between Deutsche Telekom and Telecom Italia is a bad idea. As shareholders, the German and Italian governments should block it
NOBODY could accuse the proposed telecoms giant that was paraded before the world on April 22nd of lacking scale. In a merger worth about Dollars175 billion if it goes ahead-still a big if-Deutsche Telekom and Telecom Italia plan to create Europe's largest telecoms firm, with 300,000 employees and Dollars69 billion of sales (see article). For firms that have both been on the ropes such numbers seem to offer great comfort. Telecom Italia, besieged by a hostile bid from Olivetti, is desperate for a white knight to save it; Deutsche Telekom, battered by fierce competition at home, is only too glad to oblige.
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