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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Sabrejet who wrote (19507)	3/18/2002 9:21:26 PM
From: matt dillabough	Respond to of 21876

DJ Deutsche Telekom To Cut 01 Dividend 40% To EUR37 Dow Jones News Service ~ March 18, 2002 ~ 4:03 pm EST (MORE) DOW JONES NEWS 03-18-02 04:03 PM DJ Deutsche Telekom Won't List T-Mobile Unit In 1H 2002 (MORE) DOW JONES NEWS 03-18-02 04:04 PM *DJ Deutsche Telekom Postpones EUR50B Debt Cut Goal To 2003 (MORE) DOW JONES NEWS 03-18-02 04:07 PM DJ Deutsche Telekom -2: Follows Failure Of Cable Sale BERLIN (Dow Jones)--Deutsche Telekom AG (DT) said Monday that it will take a year longer than expected to achieve its debt reduction target. The German telecommunications giant now plans to cut its EUR62.1 billion debt to EUR50 billion by the end of 2003, rather than 2002 as earlier planned. The delay in reaching the goal results from the failure of the planned sale of its cable television assets to U.S. media group Liberty Media Corp. (L) for EUR5.5 billion. German regulators blocked the sale last month. Deutsche Telekom's huge debt pile has been a major concern of investors. (MORE) DOW JONES NEWS 03-18-02 04:45 PM DJ Deutsche Telekom -3: Plans To Cut 2002 Capex Considerably In light of current market conditions, Deutsche Telekom ruled out the initial public offering of its wireless arm T-Mobile International AG (G.TMO) in the first half of the year. The listing of T-Mobile is also a key part of the company's debt reduction plan and is expected to raise about EUR10 billion for Germany's dominant phone company. The delay in the listing comes as little surprise, with the company recently pointing to poor market conditions and saying that an IPO wouldn't be carried out at any price. The company said the new date for the listing "will be set flexibly in line with the stock market situation." In order to reduce its debt to the targeted level, Deutsche Telekom announced a series of cost-cutting moves. Among them, the company said it plans to reduce its dividend for 2001 to EUR0.37 from EUR0.62 a year ago. The company also said it would "considerably cut" capital expenditures this year compared with the EUR9.9 billion in 2001. Deutsche Telekom didn't mention a new amount or how this would affect the rollout of third-generation wireless services. The company also reiterated its plans to sell non-core assets, including its cable television assets. Deutsche Telekom's debt ballooned in the past several years as it expanded into other markets, including the U.S., by way of acquisitions. On top of this were hefty fees paid for licenses to operate third-generation mobile phone networks across Europe. Company web site: telekom.de -By Chris Reiter, Dow Jones Newswires; +49 30 288 8410; chris.reiter@ dowjones.com (END) DOW JONES NEWS 03-18-02 05:17 PM