Deutsche Telekom AG (NYSE: DT)(FSE: DTE) today said that shareholders of both VoiceStream Wireless Corporation (Nasdaq: VSTR) and Powertel, Inc. (Nasdaq: PTEL) have approved and adopted the proposed mergers between Deutsche Telekom and VoiceStream and Deutsche Telekom and Powertel.
"While the VoiceStream and Powertel transactions remain subject to further regulatory approvals, we have completed another important milestone today," said Ron Sommer, Chief Executive Officer of Deutsche Telekom. "The combination of these three companies will create the first and only transatlantic provider of mobile services based on the digital GSM standard. Together, we will be able to offer seamless services over a common technology platform and provide customer-friendly features, such as global roaming, unified billing and worldwide customer service."
About Deutsche Telekom Deutsche Telekom is Europe's largest communications company and one of the largest communications carriers worldwide based on 2000 revenues of 40.9 billion euros ($38.6 billion). Through T-Mobile , Deutsche Telekom's mobile telephony subsidiary, Deutsche Telekom actually serves more than 45 million mobile telephony customers worldwide. Deutsche Telekom offers its customers a complete range of fixed-line voice telephony products and services through more than 50 million access lines. Deutsche Telekom is a leading provider of high-speed digital access lines with approximately 800,000 new asymmetric digital subscriber line (T-DSL) services currently sold and 17.3 million channels using the information transfer standard ISDN (Integrated Services Digital Network) as of December 31, 2000. In online services, T-Online is Europe's largest Internet provider with approximately 8 million subscribers. In January 2001, Deutsche Telekom launched T-Systems , Europe's second-largest provider of comprehensive IT and telecommunications services to business customers in more than 20 countries. For more information about Deutsche Telekom, visit www.telekom.de/international.
About VoiceStream Wireless
Based in Bellevue, WA, VoiceStream Wireless Corp. (NASDAQ:VSTR) is a leading provider of digital wireless communications in the United States. VoiceStream has experienced significant growth over the past year, entering into a series of strategic business transactions that will allow VoiceStream and its affiliates to provide service to more than 270 million people, representing 97% of the U.S. population. VoiceStream uses and operates the Global System for Mobile (GSM) communications technology platform. Adopted by 158 countries, GSM accounts for approximately 70 percent of the total digital wireless market. VoiceStream is the only U.S. wireless telecommunications provider with a national GSM wireless technology network, which gives customers the choice of using their VoiceStream number when traveling internationally and supports roaming capabilities for other GSM customers traveling to the United States. For more information, go to www.voicestream.com.
About Powertel Powertel, Inc. provides 100 percent digital PCS wireless services in its licensed service area in 12 states in the Southeast - one of the largest contiguous PCS networks in the southeastern United States. Through its affiliation with other GSM carriers, Powertel's coverage extends across the United States to most major cities and into much of Canada to a population of more than 260 million people. Powertel's core markets are in 34 southeastern metropolitan areas and along the major highway corridors that connect them. Athens, Atlanta, Augusta, Columbus, Birmingham, Chattanooga, Jackson, Jacksonville, Knoxville, Lexington, Louisville, Macon, Memphis, Nashville and Savannah are among the municipalities in Powertel's licensed service area, which has a population of more than 25 million people. For more information on Powertel and its products and services, visit the company on its web site at: http://www.powertel.com.
This press release contains certain statements that are neither reported financial results nor other historical information. These statements are forward-looking statements within the meaning of the safe harbor provisions of the U.S. federal securities laws. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Deutsche Telekom's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Deutsche Telekom's reports filed with the Securities and Exchange Commission (the "Commission"). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Deutsche Telekom does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release.Investors and security holders are advised to read the proxy statement/prospectus regarding the proposed mergers of VoiceStream Wireless Corporation and Powertel, Inc. with Deutsche Telekom AG which has been filed with the Commission and any amendments thereto because it contains, and any amendments thereto will contain, important information. The proxy statement/prospectus has been filed with the Commission by Deutsche Telekom AG, VoiceStream Wireless Corporation and Powertel, Inc. Security holders may obtain a free copy of the proxy statement/prospectus and other related documents filed by Deutsche Telekom at the Internet worldwide website maintained by the Commission at www.sec.gov, or at the Commission's public reference room located at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. The proxy statement/prospectus and the other documents may also be obtained for free from Deutsche Telekom by contacting Deutsche Telekom, Attention: Petra Michalscheck, Investor Relations, Friedrich-Ebert-Allee 140, 53113 Bonn, Germany and/or Deutsche Telekom, Inc., Attention: Brigitte Weniger, 280 Park Avenue, 26th Floor, New York, New York 10017.
Press Jill Clark
Deutsche Telekom
212-424-2996
Hans EhnertDeutsche Telekom
011-49-228-181-4949
Investors Nils Paellmann
Deutsche Telekom
212-424-2951