March 20 (Reuters) - Deutsche Telekom AG:
* US deal with AT&T Inc accelerates own transformation
* Plans to use approximately 5 billion EUR from AT&T deal for share buybacks
* AT&T deal will reduce net debt by approximately 13 billion EUR or 31 percent
* $39 billion deal will amount to approximately 7 times 2010 adjusted EBITDA
* CEO: 'this will strengthen our position in Europe, whilst we are still
participating in the rapidly growing business of Mobile data.'-statement
* CEO: 'we will be able to focus more on the opportunities of a modern
infrastructure in Germany and Europe, as well as in internet
products.'-statement
* CFO: 'as the biggest single share holder of AT&T we will also significantly
benefit from their strong dividend.'-statement
* CFO: 'we will be able to reduce our debts and initiate one of the biggest
share buy back programs in both Germany as well as in the European
telecommunication industry.'-statement
* Deal after closure will provide consolidation of the balance sheet. pro forma
the ratio for net debt to adjusted EBITDA in 2010 will be reduced to 1.9x
from 2.2x.
* There will be no change to shareholder remuneration policy which has been set
for three years
* Will continue with its plans to pay out 3.4 billion EUR on an annual basis
consisting of a minimum dividend of 70 cents plus share-buybacks
* Guidance for 2011 remains unchanged
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Deutsche Telekom AG click here:) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* US deal with AT&T Inc accelerates own transformation
* Plans to use approximately 5 billion EUR from AT&T deal for share buybacks
* AT&T deal will reduce net debt by approximately 13 billion EUR or 31 percent
* $39 billion deal will amount to approximately 7 times 2010 adjusted EBITDA
* CEO: 'this will strengthen our position in Europe, whilst we are still
participating in the rapidly growing business of Mobile data.'-statement
* CEO: 'we will be able to focus more on the opportunities of a modern
infrastructure in Germany and Europe, as well as in internet
products.'-statement
* CFO: 'as the biggest single share holder of AT&T we will also significantly
benefit from their strong dividend.'-statement
* CFO: 'we will be able to reduce our debts and initiate one of the biggest
share buy back programs in both Germany as well as in the European
telecommunication industry.'-statement
* Deal after closure will provide consolidation of the balance sheet. pro forma
the ratio for net debt to adjusted EBITDA in 2010 will be reduced to 1.9x
from 2.2x.
* There will be no change to shareholder remuneration policy which has been set
for three years
* Will continue with its plans to pay out 3.4 billion EUR on an annual basis
consisting of a minimum dividend of 70 cents plus share-buybacks
* Guidance for 2011 remains unchanged
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Deutsche Telekom AG click here:) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2011 AFX News
