November 21, 2019 / 1:46 PM / 15 days ago

Deutsche Telekom explores sale or IPO of Dutch unit: Manager Magazin

FILE PHOTO: The logo of Deutsche Telekom AG is silhouetted against the sun and clouds atop of the headquarters of German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay

BERLIN (Reuters) - Deutsche Telekom (DTEGn.DE) is exploring a sale or an initial public offering of its T-Mobile Netherlands after the division acquired its local rival Tele2 last year, Germany’s Manager Magazin reported on Thursday.

A Deutsche Telekom spokesman declined to comment when contacted by Reuters.

Europe’s largest telecoms group said earlier this month it would cut its dividend for 2019, reflecting uncertainty over the outcome of a proposed U.S. mega-merger and following rival Vodafone (VOD.L) as the industry grapples with the cost of building 5G networks.

T-Mobile Netherlands is - unlike other European units - a part of Telekom’s Group Development unit and not seen as a core asset.

Reporting by Thomas Seythal and Douglas Busvine in Berlin and Matthias Inverardi in Duesseldorf; Editing by Michelle Martin

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