Deutsche Telekom

From Wikicompany

Deutsche Telekom AG is the biggest German telecommunications company. It was formerly the telecommunications branch of the state-owned monopolist Deutsche Bundespost, which was split into three parts and privatized in 1996.

Deutsche Telekom employs about 250.000 people. The German owns about 17% of the companies stock. The German state-owned bank KfW owns about 15%.

Subsidiaries

All subsidiaries of the Telekom have a name starting with "T-":

• T-Com - Fixed-phone network services
• T-Mobile - Mobile phone services
• T-Online - Internet services
• T-Systems - Services for large business customers (includes the R&D department)

Deutsche Telekom also holds substantial interests in other telephone companies, including the following Eastern European subsidiaries which are now fully consolidated into T-Com:

• Slovak Telecom (Slovakia)
• MATÁV (Hungary)
• Hrvatski Telekom (Croatia)

History

On March 10, 2003, Deutsche Telekom reported an annual loss of 24.6 billion euros due to the depreciation of intangible assets.

On July 16, 2002 the former CEO Ron Sommer stepped down due to pressure and dissatisfaction from stock holders and the German government. For a transitional period of 6 months, the 72 year old Helmut Sihler was appointed as his successor. On November 15, 2002 Kai-Uwe Ricke, former chief of the Deutsche Telekom subsidiary T-Mobile, was appointed CEO of Deutsche Telekom AG.

On October 8, 2004 it has annonced its intention to buy the remaining 26,07% of T-Online shares at the market price of 8.99 euros. They were sold in 2000 three times more.