Deutsche Telekom (DT) saw net profits slip for the first half of its fiscal year due to a loss of market share in its fixed wire business, as reports suggested it was looking at acquisitions in the UK and US.
The German telecoms giant is reportedly thinking of bidding 7.5 billion pounds for One 2 One, the UK's smallest cellular operator, and is also said to be interested in taking over US long distance operator, Sprint.
Sprint partners with DT and France Telecom through their worldwide telecoms venture, Global One. The Europeans both own 10 per cent of Sprint, but rumours have circulated for a while that DT wanted to acquire the French supplier's stake (see Newswire, 2 July 1999).
Reports now suggest, however, that such a move may lead the German company to purchase Sprint outright. Analysts believe DT is nuturing an aggressive foreign expansion plan and is desperate to compete with BT on a global level.
For the first six months of the year, Deutsche Telekom saw turnover fall 5.1 per cent to 16.7 billion euros. Net profits also dropped 4.6 per cent to 950 million euros from 996 million euros.
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