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. Last Updated: 07/27/2016

DT in $5.3Bln Deal

FRANKFURT, Germany -- In a deal creating Europe's second largest information technology company, Deutsche Telekom AG is paying more than $5.3 billion for a 50.1 percent stake in DaimlerChrysler's Debis Systemhaus GmbH.

Debis, a communications software designer that develops applications for e-commerce and corporate communication, is separate from DaimlerChrysler's Debis auto financing division.

The deal still must be approved by DaimlerChrysler's supervisory board as well as the European Union anti-monopoly office.