Mergers and Acquistions News
Categories: Telecoms
September 4th 2009, 16:26PM
Deutsche Telekom, owner of T-Mobile UK, has begun talks with Vodafone, France Telecom and Spain's Telefonica about divesting the ailing T-Mobile, it has been reported.
All three companies have shown interest in acquiring the telecoms subsidiary although talks are only in the nascent stages, according to the Financial Times.
"If we're lucky, we could end up with a three-horse race," one insider told the paper.
France Telecom's Orange UK is believed to have suggested a merger with T-Mobile UK, while Deutsche Telekom's chief executive Rene Obermann has named new management for the firm in order to boost its performance.
The company hopes to sell the business for around £3.5 billion, although it could take two months or more before any deal is closed, the Financial Times stated.
On Thursday T-Mobile launched a pay-as-you-go version of the Android phone, which will be sold with Google applications pre-installed and allow users to download further applications from the Android marketplace.
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