Bonn Timotheus Höttges understands it, one of the greatest defeats of the German Telekom to turn into a success story. Accelerated at the beginning of the new millennium the DaxCorporation its global influence; In 2001, Telekom then bought the US mobile phone voicestream under the then CEO Ron Sommer for around 40 billion euros.
What catapulted Telekom into the ranks of the largest telecommunications companies in the world, initially turned out to be a flop. Investors pushed for a sale of the expensive US business.
A decade later, the US competitors stopped the attempt of Deutsche Telekom, their US subsidiary to the rival AT & T repel. Höttges was at that time already the chief financial officer of the group. The failed sale initially acted as a setback for telecom management, but later turned out to be a stroke of luck.
Because the decision-makers in Bonn had secured themselves in the event of a blockade of the assumption. AT & T had to pay a contractual penalty of three billion euros and give Telekom far-reaching access to its network.
The flop sale of the US business became the turning point for Telekom – and an important source of inspiration for Höttges. Since advancing to CEO post in early 2014, he has been gradually expanding the US business. To do this, he left US manager John Legere all liberties and jumped the US subsidiary T-Mobile US financially in the network expansion and the purchase of frequencies. Today, the US contributes more than half of the Dax Group's sales – more than ever before.
But 56-year-old Höttges wants more, much more. The purchase of the competitor Sprint, a $ 26 billion deal, is said to be T-Mobile US in one fell swoop into the league's rivals AT & T and Verizon catapult. The Telekom boss is not only concerned with expanding the strategically important US business. He also wants to establish Telekom as a global telecommunications brand.
Agenda (t) Names (t) Höttges (t) Telecom (t) Board (s) Sprint (t) Takeover (s) Deal (t) Telecommunications (t) AT & T (t) Mergers & Acquisitions M & A (t) Foreign investment (t) Foreign investment by country (t) Deutsche Telekom (t) Dax (t) Verizon (t) T-Mobile (t) T-Systems (t) Timotheus Höttges (t) Telecommunications (t) Mobile Communications (t ) telecommunication services