Deutsche Telekom shares fall on disappointing net

Article Abstract:

Deutsche Telekom AG's shares fell 4.6% after the company reported disappointing first half earnings. The earnings reflect continuing losses from its Global One venture, intensifying competition and the Asian crisis. The company's 1998 losses from Global One and Asia could total 800 million marks instead of the expected 550 million marks. The German telecommunications company hopes to raise future profitability by reducing its workforce from 230,000 to 170,000 between 1995 and 2000. "Deutsche Telekom has lost a bigger share of domestic long-distance business than they expected. It will put greater pressure on margins," said James Golob, an analyst at Deutsche Morgan Grenfell, London.

Germany, Sales, profits & dividends, Deutsche Telekom AG, Article

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KPN, Qwest to build telecom network

Article Abstract:

KPN NV and Qwest Communications International Inc. have teamed up to build a telecommunications network connecting Europe and the United States. The joint venture, called KPNQwest, plans to spend between $1.2 billion and $1.5 billion to construct a network linking 28 cities in Europe which will be connected to Qwest's network in the U.S. using undersea cables.

Joint ventures, European Union, Telephone communications, exc. radio, Telecommunications services industry, Telecommunications industry, Abstract, Qwest Communications International Inc., QWST, KPN Telecom

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