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. Last Updated: 07/27/2016

DT to Sell Cable Arm

HANNOVER, Germany -- Deutsche Telekom AG said Tuesday it had agreed to sell 55 percent of its North Rhine-Westphalia cable network to U.S. company Callahan Associates International for an undisclosed sum.

Telekom said in a statement it would retain a 45 percent stake in the NRW network and business would be transferred to Callahan as of July 1, pending approval by antitrust authorities.

It did not disclose the purchase price, which newspapers reported as being 1.83 billion euros ($1.83 billion) and 2.6 billion euros.