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Monday, July 19, 1999

Deutsche Telecom, Telefonica in talks 

Steven Silber  
Frankfurt, July 18: Germany's Deutsche Telekom AG has been in merger talks with Spain's Telefonica for some six weeks, the magazine Der Spiegel reported at the weekend, quoting a senior Telekom manager.

The manager told Der Spiegel in an advance copy of an article to appear in its latest issue that "there have already been first talks."

Spiegel also said outgoing European Union industry commissioner Martin Bangemann, a former German economics minister who is becoming a senior Telefonica official, was aware of the talks.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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