Proceeds of US$ 115 million in cash anticipated. Further contribution to reduction of debt.
Deutsche Telekom has accepted a mandatory general offer made by Telekom Malaysia (TM) for the six percent package of shares it holds in the Malaysian mobile communications provider Celcom. The stock market supervisory authority in Kuala Lumpur was informed of this today. At an offering price of MYR 2.75 per share, some 158 million shares held by DeTeAsia Holding GmbH. The proceeds will be used to further reduce Deutsche Telekom's debt.
The arbitration proceedings instituted by Deutsche Telekom in accordance with the rules of the International Chamber of Commerce in Paris will not be affected by accepting this offer. Deutsche Telekom is thus continuing to pursue its goal of obtaining MYR 7.00 per Celcom share as contractually agreed.