By Julian Goldsmith, 24 July 2000 08:52
NEWS German telecoms giant, Deutsche Telekom (DT), has finally snapped up US wireless operator Voicestream for $55bn - $25bn higher than its original bid. The deal will give DT a launchpad into into the US market, which was previously uncharted territory for the company. The acquisition will also enable the company to expand its wireless voice and data communications offerings. The move is sure to come up against strong opposition from US regulators, which restrict the activities of any foreign company which is wholly or part-owned by its goverment. The German government owns more than 25 per cent of DT.
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