By Sonya Rabbitte, 1 September 2000 11:38
NEWS T-Online has announced it will stick with its expansion strategy despite the sudden resignation last week of chief executive Wolfgang Keuntje. The resignation sparked concerns that parent company Deutsche Telekom did not agree with the internet subsidiary's plan to seek acquisitions abroad. T-Online has recently been rumoured to be in talks with UK ISP Freeserve, and has made it clear that it seeks to add media content to its service. In the second quarter results released today, losses rose E157.3m (£96m) on the first quarter, due to the cost of acquiring French ISP Club Internet and taking a 21 per cent stake in Comdirect Bank. The company also had extra costs linked to the April IPO. Second quarter sales of E179.2m (£109m) rose little on the first quarter, while earnings, excluding acquisition costs, were down E10.1m (£6.2m) to E14.2m (£8.7m).
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