Deutsche Telekom wireless business grows

By Bloomberg News, CNET News.com, CNET.com
Wednesday, December 29, 1999 09:30 PM
BONN, Germany--Deutsche Telekom, Europe's biggest phone company, said the number of its wireless telephone customers grew by 66 percent this year, exceeding its own goals by 1 million customers.

Germany's second-largest mobile phone company said its T-D1 mobile network reached 9 million customers this week, up from 6.5 million a year earlier. The company said it expected "powerful growth" in 2000 as Germany lagged other countries in mobile phone usage, citing increasing mobile phone purchases as mobile phones become Internet-capable.

Deutsche Telekom has been struggling to win and keep customers since competition entered the German market in 1998. Mannesmann already has surpassed Deutsche Telekom, the former monopoly provider, as the country's leading wireless phone company. Still, the company had forecast only 8 million customers by 2000.

Shares of Deutsche Telekom closed down 1.06 at 67.94.

Copyright 1999, Bloomberg L.P. All Rights Reserved.


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