TOKYO (07/11/2000) - Deutsche Telekom AG has made an offer to acquire U.S. mobile telephone operator VoiceStream Wireless Corp. for more than US$30 billion, according to a front page report in Asian editions of Tuesday's Financial Times.
The interest from the German telecommunications giant is the latest in a string of reported possible deals to acquire VoiceStream. However, Deutsche Telekom's deal has gone further than the others as the carrier has made a specific offer to acquire all outstanding shares or a controlling stake in VoiceStream, the newspaper report said.
Other companies that have already been linked with VoiceStream include France Telecom SA's Orange PLC mobile telephone unit, SBC Communications Inc. and, in late May, Japan's NTT DoCoMo Inc. [See "NTT DoCoMo Silent on VoiceStream Stake Report," May 30.]The report comes as Deutsche Telekom is continuing to sniff around Sprint Corp., whose proposed multi-billion dollar merger with WorldCom Inc. fell apart after the U.S. Department of Justice (DOJ) moved to block the deal on antitrust grounds. [See "DOJ Moves to Block WorldCom-Sprint Merger," June 27.] Sprint is a major wireless operator in the U.S. through its Sprint PCS unit.
The report sent VoiceStream stock jumping more than $8 in after-hours trading on Instinet from its close at $124.94.
Deutsche Telekom, in Bonn, can be reached at +49-228-181-4949 or at http://www.telekom.de/. VoiceStream, based in Bellevue, Washington, can be reached at http://www.voicestream.com/.