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Deutsche Telekom to set up new USD 500 mln investment fund

2014-11-11 15:36:00| Telecompaper Headlines

(Telecompaper) Deutsche Telekom wants to set up an investment fund worth EUR 500 million for a five-year period, on top of its existing T-Venture investments. Deutsche Telekom's supervisory board has approved the setup of a specialist team of investment managers for the new Deutsche Telekom Capital Partners (DTCP), set to launch early next year. The plan doubles the group's commitment to investments in ventures and innovation. DTCP will be one of the largest investment funds in Europe, and will also advise Deutsche Telekom on existing investments in STRATO, Interactive Media, Scout, Deutsche Telekom Innovation Pool (TIP) and T-Venture. T-Venture, the venture capital fund established in 1998, will be closed to new investments but the team will remain on board and continue to manage the existing portfolio of around 100 companies. T-Venture will also retain responsibility for follow-up investments within this portfolio. New investments will be executed through DTCP. DTCP will support Deutsche Telekom's strategy as an external innovation engine through investments in venture capital, with a special focus on Germany's start-up scene. On top of that, DTCP will also expand its activities to include private equity investments in existing undertakings to foster operational cooperation between over-the-top companies and Deutsche Telekom.

Tags: set investment usd fund

Exclusive: Germany eyes sale of stakes in Deutsche Telekom, Post

2014-11-11 13:06:58| Telecom - Topix.net

A finance ministry document seen by Reuters, which is due to be approved by Chancellor Angela Merkel's cabinet on Wednesday, sketches out plans for holdings in a range of companies. A sale of shares in rail operator Deutsche Bahn also remains an option, it says.

Tags: post sale germany eyes

Slim Adds $750 Million to Telekom Austria in European Push

2014-11-07 15:28:07| Steel - Topix.net

Billionaire Carlos Slim is putting an additional $750 million in Telekom Austria AG two years after starting a foray into Europe that has yet to pay off. As part of a 1 billion-euro capital increase by Vienna-based Telekom Austria, Slim will pay 4.57 euros apiece for 132.2 million shares for a total investment of 604 million euros.

Tags: million european austria push

Telekom Austria launches EUR 1 bln rights issue

2014-11-07 09:02:00| Telecompaper Headlines

(Telecompaper) Telekom Austria has launched a share issue to raise up to EUR 1 billion to strengthen its balance sheet. Existing shareholders will receive the right to one new share for every two existing shares they hold in Telekom Austria, at a discounted price of EUR 4.57 per share. The subscription period will run from 10-24 November. America Movil and the Austrian state holding company OIAG, the operator's two biggest shareholders, have agreed to subscribe for their pro rata shares of the offering. This was part of their agreement earlier this year that handed management control of the company to America Movil. They will have a lock-up of six months on the new shares. Telekom Austria said the additional capital will help it maintain its credit rating of at least BBB and give it more room to pursue strategic investments. In particular, the capital increase will allow an accelerated roll-out of its fibre infrastructure in the period 2015-2018 and more acquisitions to support its convergence strategy.

Tags: rights issue eur austria