T-Mobile UK parent pushing for merger deal
By Will Park on Friday, May 1st, 2009 at 3:45 PM PST In Announcements, Financial/Corporate News, Partnerships, T-Mobile
The UK wireless market, she’s a tough nut to crack. In fact, the UK is so competitive that T-Mobile (NYSE: DT)’s UK outpost is facing a merger or sell-off in the near future. T-Mobile UK’s parent company, Deutsch Telekom, is itself under pressure from shareholders. Marketing Week reports that Deutsche Telekom (NYSE: DT) is feeling the squeeze from shareholders, following on yesterday’s announcement that the company was estimating a €1.8 billion write-down for T-Mobile UK’s Q1 2009 operations.
T-Mobile UK operates the fourth-largest wireless network in the UK. Rival carrier 3, the fifth-largest UK wireless carrier, has been mentioned as a potential suitor for T-Mobile UK. Still, business seems to be going on as usual at T-Mobile. News of a potential merger comes on the heels of T-Mobile’s latest flashmob stunt in London’s Trafalgar Square. Pop artist Pink was on hand to lead 13,000 dancers and singers in a guerrilla karaoke event aimed at grabbing publicity for the T-Mobile UK.
[Via: MarketingWeek]
