Britons to miss out on pounds 7bn Telekom sale
Thursday 06 May 1999
Deutsche Telekom, Europe's biggest phone company, is targeting small investors around Europe with a package of incentives to buy half its planned 10.8bn euro (pounds 7bn) share sale. However the shares, on sale in June, will only be offered within the euro zone.
Deutsche Telekom is credited with having single-handedly triggered an equity culture in Germany when the government sold 28 per cent of the company three years ago.
This time, in a move some see as an attempt to counter hostility to its takeover of Telecom Italia, Telekom has widened the retail tranche to include non-Germans and recruited 37 banks in eight other European countries to sell shares, in addition to the group led by Dresdner Kleinwort Benson, Deutsche Bank and Goldman Sachs, which will co-ordinate share sales to institutional fund managers.
Retail investors who order shares early will get a discount of between 2 and 5 per cent off the price used to sell shares to institutions. Small investors will also get an extra share for every 10 they buy.
Joachim Kroeske, finance director, said: "We will ensure that each [potential] shareholder has the same chance, regardless of nationality."
The magicians using online collaboration to push boundaries
Jennifer Lawrence attacks mass media again over body image
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Sun will 'flip upside down' within weeks, says Nasa
Ian Watkins: Paedophile Lostprophets singer sentenced to 35 years for child sex offences, as judge labels him a 'dangerous sexual predator'
Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 4 Christmas comes early: Justin Bieber announces he's 'retiring from music'
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...
£25000 - £35000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Implementation...
£50000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...