Posted on 09/05/08
Deutsche Telekom's profit doubles on media unit sale
Deutsche Telekom AG, Europe's largest phone company, said yesterday that first-quarter profit doubled on a gain from selling a unit and from lower interest costs - to €924-million ($1.44-billion) from €459-million a year earlier. The Bonn-based company said in a statement that sales slipped 3.1 per cent to €15-billion euros, missing analyst estimates, as fixed-line customers defected, prices declined and the U.S. dollar fell against the euro. Deutsche Telekom sold its media and broadcast unit to TDF SA of France in January, and booked a gain of about €500-million in the first quarter. DYE (Frankfurt) rose 27 euro cents to €11.78.
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