FRANKFURT (Reuters) - Deutsche Telekom is to set up a 500 million euro ($620.4 million) fund for technology ventures, giving the company more scope to invest in venture capital and innovation.
The fund, called Deutsche Telekom Capital Partners (DTCP), will be launched early next year and will focus on Germany’s growing tech start-up scene, the telecoms operator said on Tuesday.
The new fund will also expand its activities to include private equity investments in existing companies.
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(Reuters) - Dish Network Corp's <DISH.O> chairman, Charlie Ergen, recently contacted Deutsche Telekom AG <DTEGn.DE> to express interest in acquiring the German company's unit, T-Mobile US Inc <TMUS.N>, Bloomberg reported, citing people with knowledge of the matter.
Ergen has not made a formal offer or hired any bank to advise it on the potential deal, the report said.
FRANKFURT (Reuters) - German internet service provider United Internet said on Wednesday it had agreed to acquire buyout group KKR's 74.9 percent stake in cable group Versatel for about 586 million euros ($769 million) in cash.
United Internet, which already controls 25.1 percent of Versatel, had said last month it was considering a complete takeover of the company, which owns Germany's second-largest fiber optic cable network with a length of about 37,000 kilometers.
FRANKFURT (Reuters) - The European Central Bank (ECB) has no plans to end its business relations with U.S. telecoms firm Verizon Communications Inc, ECB President Mario Draghi said in response to a query from a member of the European parliament on Thursday.
The German government said in June it had canceled a contract with Verizon as part of an overhaul of its internal communications, prompted by revelations last year of U.S. government spying.
In the letter to Fabio De Masi, Draghi wrote that the ECB "takes the threat of economic espionage very seriously".
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BRUSSELS/FRANKFURT (Reuters) - European regulators have cleared Telefonica's bid to consolidate the German mobile market by buying smaller rival KPN's E-Plus for 8.6 billion euros ($11.7 billion), raising prospects of more deals to come across Europe's telecoms markets.
The European Union's powerful antitrust chief Joaquin Almunia said on Wednesday that Telefonica agreed to concessions - including selling some radio spectrum and renting out capacity on its network to smaller rivals - to ensure that the deal does not lead to higher prices for customers.