The German telco reports a €7.4bn write-down for its US business in the third quarter. By Paul Rasmussen
Deutsche Telekom CEO Rene Obermann brushed aside the third-quarter €7.4bn writedown on its T-Mobile USA business, and instead told investors that the company plans to spend €2.5bn boosting its German network to support the growth in data traffic.
“Demand is currently shooting through the roof,” Obermann told Teltarif.de. He added that data volume will increase by a factor of 15 to 20 driven by surging smartphone and tablet usage. He also said network traffic will increasingly come from the automotive sector as it looks for network access to traffic congestion services, real-time navigation and breakdown alerts.
FierceWirelessEurope: Deutsche Telekom banks on mobile data amid €7.4B writedown in Q3; TelecomTV content partner.
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