Deutsche Telekom AG — M&A Activity 2003

Jan 28, 2003

News Details

Ad-hoc | 28 January 2003 12:21

Deutsche Telekom AG english

Ad hoc release of Deutsche Telekom AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Bonn, 28 January 2003 Deutsche Telekom is selling its cable TV business in the remaining six regions to an investor consortium Proceeds will make significant contribution to reducing debt Deutsche Telekom has sold its remaining six regional cable TV networks. The purchase contract was signed today with an investor consortium made up of Apax Partners, Goldman Sachs Capital Partners and Providence Equity. The price for the deal is EUR 1.725 billion in cash. The transaction is expected to be completed by the end of March 2003. The sale is subject to various conditions, including approval from the EU competition authority and financing. The transaction includes Deutsche Telekom’s remaining cable operations in the regions of Hamburg/Schleswig-Holstein/Mecklenburg-Western Pomerania, Lower Saxony/Bremen, Berlin/Brandenburg, Saxony/Saxony- Anhalt/Thuringia, Rhineland-Palatinate/Saarland and Bavaria, as well as the relevant central operations. At the same time it was agreed with the investors that the purchase price will increase up to a further EUR 375 million depending on the value of the cable business in the future. The number of staff employed in the companies included in the deal totals approximately 2,500. They will be taken over by the new owner as soon as the transaction is completed. End of release end of ad-hoc-announcement (c)DGAP 28.01.2003 ——————————————————————————– WKN: 555750; ISIN: DE0005557508; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, Stuttgart und München; EUREX; London, Amsterdam, NASDAQ Europe, Virtex, New York (ADR), Tokio 281221 Jän 03