Deutsche Telekom gets off to fast start; Europe's biggest IPO makes investors 19% in an hour in trading in Frankfurt
Article Abstract:
The first day of trading on Deutsche Telekom's IPO resulted in a $22.45 share price, a 19% increase over the initial price, and a record 37.7 million shares traded. Institutional investors and index-driven mutual funds were behind the large demand for Telekom shares. Experts expect that the high share price will result in heavy selling by small investors eager for profits. They also speculate that the initial offering price was lower than expected to encourage investors to hold on to their shares or to increase their buying. Telekom officials are on a world tour celebrating Europe's largest IPO. They predict that profits and sales will increase in 1998 when the German telecommunications market becomes fully liberalized. To accommodate the anticipated increase in trading during the first week of the Telekom offering, electronic trading in Germany will be extended to 7:00 pm through Nov 22.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1996
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AT&T weighs stocks to track different units
Article Abstract:
AT and T, seeking to decouple its new businesses' need for capital from its core telephone service business may issue tracking stocks for its wireless, cable and Internet, and outsourcing units. Executives are concerned that the current market capitalization of ATand T doesn't reflect the value of these underlying business. Presently, the company is voting to acquire MediaOne Group Inc., a deal that wouldn't close until next year. AT and T shares were trading at $41.75 Friday, a 25% percent decline from a high reached earlier in 1999.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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British Telecom to split up in broad renewal; moving to cut huge debt, BT will try to raise $8.38 billion in offering
Article Abstract:
Struggling to reduce its huge debt, British Telecom PLC is planning to split into two parts and it prepared to split further if need be. BT will spin off its mobile-phone subsidiary and offer shares of the new concern.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2001
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