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Telekom is in the red

Telekom is in the red

The 2001 financial year will probably not be very positive for Telekom. The balance sheet will likely be in the red for the first time since going public five years ago. Last year, Telekom was still up in the first three quarters with 8.4 billion euros.

Im The 2001 financial year will probably be the first time Telekom has posted a loss since going public five years ago. Last year the Telekom was in the first nine months with 8.4 billion euros in the plus, on the other hand the Telekom stands before interest, taxes and depreciation significantly better. Compared to the first three quarters of 2000, this figure rose by 15 percent to around 11.3 billion euros. The ability to pay dividends will not be affected, as the company announced on Wednesday. However, this did not help the share price fluctuations. In an overall poor environment, the T-Share was the one with the lowest losses at the start of trading in the DAX stocks. It only gave way by 0.5 percent and was EUR 18.7. The expiry of the holding period for a total of 288 million Telekom shares on December 1 also did not change much in the share price. However, when Deutsche Bank placed a package of 40 million T-shares for Hutchison Whampoa, it triggered a price slide. Investors now fear that further blocks of shares will come onto the market in a disorderly manner, which could push the price further down. The Finnish group Sonera, for example, still has around 38 million T-shares to be sold.