Deutsche Telekom wants asset swap for T-Mobile UK

By
Tolga Çakır
– July 3, 2009Posted in: Business, Germany, Sci/Tech, Turkey, UK

FT names Vodafone Turkey as likely candidate to swap assets with German operator’s U.K. unit.

Deutsche Telekom AG executives would prefer an asset-swap deal with any suitor for its T-Mobile UK unit, the Financial Times reported Thursday, citing two people familiar with the company.

The executives are interested in swapping T-Mobile for an asset in another country rather than selling or merging the business, although they acknowledge it would be a difficult deal to consummate.

The sources said Vodafone Turkey – a unit of Vodafone Group PLC, which is reportedly mulling a bid for T-Mobile – is the ideal for an asset swap. One of the sources said EUR3 billion would be the “absolute minimum value” for T-Mobile if Deutsche Telekom opts to sell.

Total Telecom

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