Investors sell telecom stocks, fearing price war

Article Abstract:

Deutsche Telekom AG plans to make intensive reductions in prices so it could protect its market share after the telecom market was deregulated in 1998. Meanwhile, sector competitor MobilCom AG reported that group sales nearly quadrupled to 904.3 million marks ($539.1 million) during the first nine months of 1998 while pretax profit nearly quintupled to 111.9 million marks. Investors wary of a price battle due to heightened competition in the market responded by selling their shares in both firms. Ron Sommer, Deutsche Telekom chairman, said group sales would be slashed by billions of marks because of the price cuts. He said, however, that this would be made up through a growth in client base.

Comment:

Plans to make intensive reductions in prices to protect its market share after the telecom market was deregulated in '98

Marketing procedures, Communications, Broadcasting and Telecommunications, Telecommunications industry, Deutsche Telekom AG, Article

---

Degussa-Huels shows charge, shares decline

Article Abstract:

Degussa-Huels AG saw its share value decline following its reporting of a slowdown in its financial performance. The company reported a 69 million euros charge. Degussa's individual operations also performed poorly. As a result, the company's share valued dropped 1% to 37.50 euros per share. This represented a fall of 35 European cents.

Chemicals & Allied Products, Chemical Manufacturing, Securities prices, Chemicals, Abstract, Securities, Chemical industry, Degussa-Huels AG

---

Similar abstracts:

• Abstracts: The French market for textile washing products: market sectors: softeners
• Abstracts: Caught in the crossfire: bidding war edges out small shareholders
• Abstracts: iXOS's low-priced IPO illustrates tough market. Fortis AG, Fortis Amev shares to be split. Swisscom soars, but Fortis Amev grounds its issue
• Abstracts: Flemings, Evercore form pact. ING Barings' Minderhoud resigns
• Abstracts: Durex unveils steamy ads to woo young U.S. buyers. Hearing to decide on U.K. plaintiffs in tobacco suit. BAT joins forces with Rothmans in $8.67 billion deal

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.