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. Last Updated: 07/27/2016

T-Online to Be Sold




FRANKFURT, Germany -- Europe's largest telephone company, Deutsche Telekom AG, said it will sell part of its successful Internet subsidiary in an effort to raise cash for the company's continued expansion overseas.


Deutsche Telekom will sell stock in 9 percent of its T-Online division some time in mid-April, president Ron Sommer said Tuesday


While, Deutsche Telekom will hold the remaining 1 billion shares, the sale could boost the value of T-Online to 30 billion euros ($30.3 billion). T-Online is Europe's largest Internet service provider, and No. 2 in the world behind U.S.-based America Online.