Deutsche Telekom AG — M&A Activity 2001

Jun 21, 2001

News Details

Ad-hoc | 21 June 2001 07:50

Deutsche Telekom AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Deutsche Telekom to sell its cable TV business Bonn, June 21, 2001- Deutsche Telekom AG is to sell six of the total of nine cable TV regions in full to the Liberty Media Corporation. The activities of Deutsche Telekom Kabel-Services GmbH (DeTeKS) and MediaServices GmbH (MSG) in these regions are also being taken over in full. The Boards of Management of the two companies have approved a key elements agreement to this effect. Negotiations on the detailed contracts of the transaction will be completed in the coming weeks and the approval of the relevant supervisory bodies sought. Liberty Media is purchasing the cable TV regions Hamburg/Schleswig- Holstein/Mecklenburg-Vorpommern, Bremen/Niedersachsen, Rheinland-Pfalz/Saarland, Berlin/Brandenburg, Sachsen/Sachsen-Anhalt/Thüringen and Bayern. More than 10 million homes are connected to the cable network in these six regions. The two companies are aiming to close the deal in July 2001. The business will be transferred once anti-trust approval has been given. end of ad hoc announcement (c) DGAP 21.06.2001 ——————————————————————————– WKN: 555750; Index: DAX, EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, Stuttgart und München; EUREX; New York (ADS); Tokio; Toronto 210750 Jun 01