Deutsche Telekom shares up on T-Mobile USA report

AP News
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Posted: Mar 08, 2011 12:53 PM
Deutsche Telekom shares up on T-Mobile USA report

Deutsche Telekom AG's shares were the best performer on Frankfurt's main stock index Tuesday following a report that the German company has held talks to sell its T-Mobile USA unit.

The company's shares closed up just under 4 percent at euro10.01 ($14.00). Frankfurt's DAX index of blue-chip stocks was barely changed overall, ticking up less than 0.1 percent.

Deutsche Telekom said it had nothing to announce and doesn't comment on speculation.

Bloomberg reported that Deutsche Telekom has held talks to sell T-Mobile USA to Sprint Nextel Corp. in exchange for a major stake in the combined company. The report cited anonymous sources with knowledge of the matter, who said it was still not clear if a deal would be reached.

Sprint Nextel also declined to comment.