Word: voicestream
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...former German telephone�monopoly Deutsche Telekom took a leap of faith across the Atlantic and bought an upstart U.S. mobile-phone company called VoiceStream Wireless for $46.5 billion. Telekom's management was excoriated for paying an exorbitant price for the smallest operator in a crowded market, dwarfed by giants Cingular, Verizon and Sprint. But the bet paid off. Today, the U.S. arm of T-Mobile, the German mother ship's wireless unit, is still ranked fourth, but it is the fastest-growing part of the $75 billion company and well on its way to becoming Telekom's largest revenue source...
...Deutsche Telekom, Ricke, 41, has swiftly shaken up the debt-burdened telephone giant: he eliminated three board positions and added two division heads to give those closest to the markets more influence. He's also considering reducing DT's stake in T-Mobile USA (formerly VoiceStream) to shift some debt off the balance sheet. Investors hope Ricke can duplicate the magic he performed as DT's wireless boss in Germany, where he recaptured market leadership from Vodaphone...
...team, led by group managing director Canning Fok, were the same folks who built Orange into a leading mobile carrier in the United Kingdom before unloading their 49% stake for a cool $21.5 billion in 1999. Soon thereafter, Hutchison Whampoa sold its 23% stake in U.S. wireless firm Voicestream to Deutsche Telekom for another $9 billion...
...earlier attempts to remove Sommer, a former Sony Europe executive. Now that he has finally fallen, his successors face the nightmare of a ?67 billion debt pile. Sommer bought stakes in telecoms companies from Britain to Hungary, but his most controversial decision was to buy U.S. mobile-phone operator VoiceStream for ?33 billion in May 2001. The company is the sixth-largest mobile operator in the U.S. and many analysts believe it is too small to survive on its own. "VoiceStream should be sold," says Robert Vinall, an analyst at DZ Bank in Frankfurt. He puts VoiceStream losses...
...with 3,500 or more night and weekend minutes for $150. AT&T adds a little more value: 2,200 anytime minutes and unlimited nights and weekends for $150. If you're trying to downsize, AT&T offers 1,300 anytime minutes with unlimited nights and weekends for $100; VoiceStream has a 1,400-minute plan with unlimited weekend calling...