Hamburg Deutsche Telekom has halted the sales process for its IT services subsidiary T-Systems. According to insiders, negotiations with the remaining interested parties have failed. An early conclusion on acceptable terms therefore no longer seemed realistic for the time being.
Corresponding information from the Handelsblatt was confirmed by several sources from corporate and financial circles. The project was considered a failure internally; the Deutsche Telekom Board headed by its CHAIRMAN Timotheus Höttges is therefore said to have once again initiated a change of strategy.
Deutsche Telekom did not comment specifically on the information. The market environment is dynamic, a spokesman said on request. The management has “options for further growth continuously and entrepreneurially in mind”.
Negotiations for telecom subsidiary T-Systems failed
The sale of or the participation of an investor in T-Systems was originally planned as an exemption last year. A success of the project should make one of the few problems disappear that CEO Höttges could not solve even more than eight years after he took over.