telekom
Germany's state-owned investment bank KfW sold 110 million shares in telecommunications firm Deutsche Telekom on Monday, the German Finance Ministry said, stating the sale will benefit the country's rail network. "The federal government will use the net proceeds from the transaction to strengthen the equity capital of Deutsche Bahn AG and to expand the railway infrastructure in Germany in a forward-looking manner," the ministry said, without mentioning the specific value of the sale. Germany's rail network is considered dilapidated and overloaded, with disruptions, repairs and construction wor...
DPA Breaking News
Germany's KfW investment bank is to sell off another tranche of the shares that it holds in Deutsche Telekom for an estimated value of almost €2.5 billion ($2.7 billion), the state-owned bank announced after the Frankfurt Stock Exchange closed on Monday. The KfW plans to sell 110 million Telekom shares to institutional investors. Deutsche Telekom shares declined slightly in after-hours trading on the Tradegate platform after the news was announced. The sale would reduce the German state's stake – held directly and indirectly through the KfW – to 27.8%. "The KfW and the state will remain the la...
DPA Breaking News
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