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Deutsche Telekom CEO says BT stake is still right -speech text
March 2, 2017 / 9:12 AM / 9 months ago

Deutsche Telekom CEO says BT stake is still right -speech text

BONN, Germany, March 2 (Reuters) - Deutsche Telekom wants to keep its stake in British telecoms operator BT despite writing down the value of the holding by 2.2 billion euros ($2.3 billion), Chief Executive Tim Hoettges said in the speech of a text on Thursday.

“The financial stake in the leading integrated network operator in the UK is still the right strategy for me,” he said in the text of the speech.

The German carrier earlier reported a net loss for the fourth quarter due to the writedown, which leaves the 12 percent BT stake at 5.1 billion euros on its books. ($1 = 0.9487 euros)

Reporting by Georgina Prodhan; Editing by Victoria Bryan

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