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Deutsche Telekom to work with Vodafone in internet venture

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By MarketWatch

BERLIN (AFP) -- German telecommunications group Deutsche Telekom AG /zigman2/quotes/213490072/composite DT +6.74% is to join forces with U.K. rival Vodafone Group PLC /zigman2/quotes/202862751/composite VOD -1.41% to develop a fiber optic network for high-speed Internet access, a senior Deutsche Telekom official said.

The two groups want to develop two projects in Germany to establish a high-speed Internet network that could serve 100,000 homes, said Timotheus Hottges, responsible for fixed telephone operations at Deutsche Telekom.

"We are going to see how this cooperation would work at the technical level," he said.

"We want to show that Deutsche Telekom does not want to monopolize the new networks."

Hottges said Deutsche Telekom "was going to have to abandon some parts of the (fixed telephone) market" but added that client losses should peak in 2010 and level off after that.

-Contact: 201-938-5400

/zigman2/quotes/213490072/composite
US : U.S.: NYSE
$ 51.63
+3.26 +6.74%
Volume: 1.59M
Jan. 26, 2022 2:02p
P/E Ratio
179.45
Dividend Yield
N/A
Market Cap
$13.79 billion
Rev. per Employee
$293,454
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 16.83
-0.24 -1.41%
Volume: 3.62M
Jan. 26, 2022 2:02p
P/E Ratio
N/A
Dividend Yield
9.27%
Market Cap
$45.83 billion
Rev. per Employee
$510,677
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