Deutsche Telekom seeks more foreign acquisitions
Cologne, Germany - Deutsche Telekom, the telephones giant which won management control of main Greek phone company OTE this week, said Thursday it was looking for other acquisitions outside Germany.
"If we see the right opportunity at the right time, we'll go for it," chief executive Rene Obermann told shareholders at a meeting in Cologne. He said Telekom was forced to expand abroad because of strict regulation of its home German market.
He forecast that Telekom, Europe's biggest telco, which had more than 50 per cent of its sales outside Germany last year, would lift the non-German turnover to two-thirds of the total.
On Wednesday, the Greek government and Telekom said the German company would expand its OTE equity to 25 per cent plus one share, giving Bonn-based Telekom control of OTE phone businesses in several south-east European nations. (dpa)
