Word: telekom
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...scheme for trucks after the system operator, Toll Collect, failed to solve technical problems with the trucks' onboard GPS units. The decision to abandon the ill-fated venture - it was scheduled to start in August 2003 before being postponed - is an embarrassment for the top players behind it. Deutsche Telekom and DaimlerChrysler had banked on the system as a possible export. Since Toll Collect refuses to pay full damages for the €6.5 billion shortfall in revenues, it is also a further fiasco for the government, which rashly earmarked part of that sum for much-needed investments in infrastructure...
Fresh from reporting Deutsche Telekom's first profit in two years - after making a European-record €24.6 billion loss last year - CEO Kai-Uwe Ricke promised last week that 2003 was "the year of the turnaround." DT isn't the only telecom dialing up good numbers: a string of other phone companies have reported positive results, including British Telecom, which last week posted a 40% gain in quarterly profits. But phone companies aren't off the hook. BT's €8.1 billion pension hole dwarfs its income. And better profits owe more to cost cutting and asset sales than...
Fresh from reporting Deutsche Telekom's first profit in two years - after making a European-record €24.6 billion loss last year - CEO Kai-Uwe Ricke promised last week that 2003 was "the year of the turnaround." DT isn't the only telecom dialing up good numbers: a string of other phone companies have reported positive results, including British Telecom, which last week posted a 40% gain in quarterly profits. But phone companies aren't off the hook. BT's €8.1 billion pension hole dwarfs its income. And better profits owe more to cost cutting and asset sales than...
...deal with a German bidder. With a team of advisers, Saban set out to convince creditors, regulators and politicians that he was the best buyer. He knew that another rich American, media mogul John Malone, had tried in 2001 to buy a group of TV networks from Deutsche Telekom, Germany's major cable operator, but had been blocked by regulators in part because he was perceived as arrogant and unbending. Saban played the charmer. To regulators concerned about foreign control of media assets, he promised not to inject his political views into the business. To creditors, he stressed that...
...INDICATORS Another wrong number Deutsche Telekom joined the list of Europe's hard-hit wonders, breaking a German record with a 324.6 billion loss in 2002. Although the Continent's largest telecom firm says it's on track, it still carries 361 billion in debt...