Deutsche Telekom AG

Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.
  • Ticker555750
  • ISINDE0005557508
  • SectorMobile Telecommunications
  • CountryGermany

Analysts

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/UniCredit, Commerzbank and Deutsche Telekom

UniCredit (UCGIM) plans to offload a €5bn non-performing loans portfolio to accelerate its balance sheet clean-up according to Bloomberg citing people familiar with the matter. The bank is looking into using a structured transaction in one or more tranches with the aim to complete the deal by the end of the year.

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/21/2019

Two weeks ago, it seemed rational to tilt our allocation more towards cyclicals and away from defensives (macro, expensive nature of the growth/quality theme). Alas! Donald Trump has gotten involved, rekindling volatility and considerably reducing visibility. What can we do when the search for security is once again pushing yields down, which is favourable for long-term sectors, often synonymous with quality but too expensive? Favour the cash flow/distribution trade combined with an a...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/05/2019

Il y a 15 jours, colorer de manière plus cyclique, moins défensive, son allocation paraissait rationnelle (macro, cherté de la thématique qualité croissance). Las ! D Trump est passé par là réveillant la volatilité et diminuant considérablement la visibilité. Que faire alors que la recherche de sécurité pousse de nouveau les rendements à la baisse ce qui est favorable aux secteurs à duration longue souvent synonyme de qualité mais trop chers ? Favoriser le couple cash-flow / distribut...

Alexandre Iatrides

Deutsche Telekom : FCC chairman endorses T-Mo/Sprint merger. Just the DOJ's review to come. Time to start putting the champagne on ice

>Blueprint sets the stage for agreement from FCC - Shares in T-Mobile and Sprint rallied in response to the announcement from the FCC which presented a blueprint with the terms of concessions that would lead it to accept the merger between T-Mobile and Sprint. Among the conditions are sale of the Sprint-owned prepaid brand Boost Mobile, better coverage of rural areas with mobile connection speeds of over 100 Mbps for 90% of the population by 2024, coverage for 28 m ho...

Alexandre Iatrides

Deutsche Telekom : La FCC approuve la fusion T-Mo/Sprint. Reste le DOJ. On peut commencer à mettre le champagne au frais

>Un brouillon ouvrant la voie à un accord de la part de la FCC - Les actions T-Mobile et Sprint ont fortement réagi à l’annonce de la FCC qui a émis un brouillon avec des conditions de remèdes qui l’amènerait à accepter la fusion entre T-Mobile et Sprint. Parmi ces conditions, la cession de la marque de prépayé appartenant à Sprint "Boost Mobile", une meilleure couverture des zones rurales avec un débit mobile de plus de 100 Mbps pour 90% de la population d’ici 2024, ...

Deutsche Telekom AG: Update to credit analysis

Our credit view of Deutsche Telekom, reflecting its international footprint and credit profile in the European and US telecom markets

Deutsche Telekom AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Deutsche Telekom AG - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Deutsche Telekom AG: Update to credit analysis

Our credit view of Deutsche Telekom, reflecting its international footprint and credit profile in the European and US telecom markets following the merger of TMUS and Sprint.

Deutsche Telekom AG - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alexandre Iatrides

Deutsche Telekom : FCC chairman endorses T-Mo/Sprint merger. Just the DOJ's review to come. Time to start putting the champagne on ice

>Blueprint sets the stage for agreement from FCC - Shares in T-Mobile and Sprint rallied in response to the announcement from the FCC which presented a blueprint with the terms of concessions that would lead it to accept the merger between T-Mobile and Sprint. Among the conditions are sale of the Sprint-owned prepaid brand Boost Mobile, better coverage of rural areas with mobile connection speeds of over 100 Mbps for 90% of the population by 2024, coverage for 28 m ho...

Alexandre Iatrides

Deutsche Telekom : La FCC approuve la fusion T-Mo/Sprint. Reste le DOJ. On peut commencer à mettre le champagne au frais

>Un brouillon ouvrant la voie à un accord de la part de la FCC - Les actions T-Mobile et Sprint ont fortement réagi à l’annonce de la FCC qui a émis un brouillon avec des conditions de remèdes qui l’amènerait à accepter la fusion entre T-Mobile et Sprint. Parmi ces conditions, la cession de la marque de prépayé appartenant à Sprint "Boost Mobile", une meilleure couverture des zones rurales avec un débit mobile de plus de 100 Mbps pour 90% de la population d’ici 2024, ...

Denise Molina

Morningstar | Updated Report Deutsche Telekom AG

We are pleased with the strategic changes Deutsche Telekom is making. In January 2016, the company sold its stake in EE for a 12% stake in the enlarged BT Group and slightly more than GBP 2 billion in cash. This removes DT from directly competing in one of the most difficult markets in Europe, but leaves it as the largest shareholder in the only telephone company in the United Kingdom that fully owns and controls its own fixed-line and wireless telecom networks, leaving it well positioned for the movement to convergence. In the United States, the merger with MetroPCS provided a listing for thi...

Denise Molina

Updated Report Deutsche Telekom AG

Deutsche Telekom reported strong first-quarter revenue, but we don’t anticipate any significant changes to our EUR 17 fair value estimate for the local shares. We continue to believe that the firm doesn’t have a moat and that the stock is slightly undervalued. The firm reported revenue grew 8.7% year over year versus our full-year projection of 6.1%. DT benefited from the continued success of T-Mobile US, where revenue grew 7%. (For more on the U.S. division, please see our April 26 note). It wa...

Allan C. Nichols

Morningstar | Deutsche Telekom Reports Strong 1Q Revenue; Shares Slightly Undervalued

Deutsche Telekom reported strong first-quarter revenue, but we don’t anticipate any significant changes to our EUR 17 fair value estimate for the local shares. We continue to believe that the firm doesn’t have a moat and that the stock is slightly undervalued. The firm reported revenue grew 8.7% year over year versus our full-year projection of 6.1%. DT benefited from the continued success of T-Mobile US, where revenue grew 7%. (For more on the U.S. division, please see our April 26 note). It was also helped by the acquisition of UPC Austria, which allowed its European division to grow 2.8%. ...

2 directors bought

Two Directors at Deutsche Telekom Ag bought 58,505 shares at between 14.800EUR and 14.940EUR. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/21/2019

Two weeks ago, it seemed rational to tilt our allocation more towards cyclicals and away from defensives (macro, expensive nature of the growth/quality theme). Alas! Donald Trump has gotten involved, rekindling volatility and considerably reducing visibility. What can we do when the search for security is once again pushing yields down, which is favourable for long-term sectors, often synonymous with quality but too expensive? Favour the cash flow/distribution trade combined with an a...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/05/2019

Il y a 15 jours, colorer de manière plus cyclique, moins défensive, son allocation paraissait rationnelle (macro, cherté de la thématique qualité croissance). Las ! D Trump est passé par là réveillant la volatilité et diminuant considérablement la visibilité. Que faire alors que la recherche de sécurité pousse de nouveau les rendements à la baisse ce qui est favorable aux secteurs à duration longue souvent synonyme de qualité mais trop chers ? Favoriser le couple cash-flow / distribut...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/05/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/25/2019

On 30 January, Atos is to host a CMD at which we expect management to adopt an upbeat stance on targets for growth, margins and FCF to beat expectations which have been very low since October 2018. The levers to achieve these targets are credible, in our view. Cf. report published today. - ...

With a more favourable environment, DEUTSCHE TELEKOM AG improves to Positive

DEUTSCHE TELEKOM AG (DE), a company active in the Integrated Telecommunications industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date March 12, 2019, the closing price was EUR 15.01 and its potential was estimated at EUR 15.76.

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

Ng Adrian

Deutsche Telekom

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/UniCredit, Commerzbank and Deutsche Telekom

UniCredit (UCGIM) plans to offload a €5bn non-performing loans portfolio to accelerate its balance sheet clean-up according to Bloomberg citing people familiar with the matter. The bank is looking into using a structured transaction in one or more tranches with the aim to complete the deal by the end of the year.

ING
Hendrik Wiersma

Deutsche Telekom/Solid 1Q19 results; DT4.875 4/25 favoured/STABLE

Deutsche Telekom[e] reported solid 1Q19 results. They were characterised by growth in Germany and strong increases in the US, both with respect to the top-line and the EBITDA result. Deutsche Telekom trades largely in line with Orange in maturities up to 4 years. Longer on the curve, the company's bonds offer a pick-up versus its French peer. We believe this is justified given the company's more aggressive financial policy post the pending acquisition of Sprint. On Deutsche Telekom's curve we prefer the DT4.875 4/25.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Carrefour, UniCredit, DT, Enel, ArcelorMittal

Carrefour (CAFP) is considering options for its business in China, according to Bloomberg reports. People familiar with the matter said that Carrefour could sell the business for US$1bn, but may also opt to only divest a stake or not sell altogether. A spokesperson for Carrefour denied that a sale is on the table. A full sale of the China business would decrease net adjusted leverage by just over 0.1x to 2.2x, which we don't see as material for spread development. (For full stories, download report)

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/DB, Commerzbank, DT, Iberdrola, E.ON

Deutsche Bank (DB) and Commerzbank (CMZB) have resumed discussions on a possible merger of the two lenders according to Bloomberg citing German Focus. The banks' CEOs have had intense talks for some days after receiving mandates from their management and supervisory boards to do so according to the article. Earlier press sources implied that a merger of the two could depend on the performance of Deutsche Bank in the first quarter 2019.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/BT working on defence against foreign suitor

BT Group (BRITEL) is strengthening its defences to fend off a potential takeover from Deutsche Telekom (DT), the Mail on Sunday is reporting. BT is consulting Goldman Sachs and M&A firm Robey Warshaw and is also likely to sound out Perella Weinberg and JP Morgan on its strategic options and defence strategy, according to the newspaper.

MarketLine Department

BT Group plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BT Group plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BT Group plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

MarketLine Department

Orange SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Orange SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Orange SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Thi...

MarketLine Department

Vodafone Group Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Vodafone Group Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Vodafone Group Plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

OTE Group - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's OTE Group Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by OTE Group since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Thi...

MarketLine Department

United Internet AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's United Internet AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by United Internet AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

Expert Corporate Governance Service (ECGS)

Deutsche Telekom, March 28, 2019

Item 5: PwC, Frankfurt am Main, is proposed as auditor for the current financial year.  We have no concerns over the ratio of non-audit/audit fees. However, we note that PwC has audited the Company since the financial year 1996 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of PwC as auditor.

Deutsche Telekom – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global indexes approaching major resistance Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation for continued downward pressure on global equities remains intact. At the same time, we are seeing signs that the worst of the declines may be behind us as global cyclical Sectors show RS improvements while defensive Sectors display early signs of RS deterioration. • Regional/Country Overview. The U.S., Europe, and Japan all remain in downtrends from a price perspective, though major resistance levels are...

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Jérôme VINERIER

Short term view - DEUTSCHE TELEKOM : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €15.002. Breaking below the support at €12.827 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - DEUTSCHE TELEKOM : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 15,002 €. La rupture du support à 12,827 € invaliderait cette tendance.

Jérôme VINERIER

Short term view - DEUTSCHE TELEKOM : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €15.002. Breaking below the support at €12.827 would invalidate the trend.

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