Aug 25, 2002 (08:08 PM EDT)
Deutsche Telekom Looks For VoiceStream Buyer
Read the Original Article at InformationWeek
Struggling to overcome a huge debt load, Deutsche Telekom, Europe's largest telecom company, is looking to sell VoiceStream Wireless, its U.S. mobile subsidiary. If completed, the sale could radically alter the U.S. wireless market.
Interim CEO Helmut Sihler confirmed last week that the company is considering the sale. "There are talks, there are contacts, there are no negotiations," he said. Likely partners for the deal include AT&T Wireless or Cingular Wireless, because they use similar mobile technologies. If VoiceStream were to merge with either of those providers, the combined company would rival the size of market leader Verizon Wireless.
Deutsche Telekom is looking to sell a number of its operations to raise the more than $6.7 billion it needs to get its debt under control. The company has more than $62 billion in debt.