Deutsche Telekom shares fall 1.3-percent, bid for rival Sprint Nextel
Bad news for shareholders of Deutsche Telekom, as shares have fallen according to a report from Reuters.
The shares dipped 1.3% after a report that the group was mulling a bid for U.S rival Sprint Nextel.
A deal would vault Deutsche Telekoms T-Mobile USA unit past the current market leaders AT&T, and Verizon but would inevitably cost billions of euros to actually pull the deal off.
The decline meant that shares in Deutsche Telekom went down to 9.41 euros and were one of the sharpest fallers among German large caps. According to Heino Ruland, from Ruland Research a capital raising effort would be necessary in case of a bid taking place. Source – reuters.com