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Deutsche Telekom halts asset sale.

The Daily Deal

| September 18, 2003 | COPYRIGHT 2003 The Deal LLC. (Hide copyright information)Copyright

Byline: The Deal

German phone company Deutsche Telekom AG on Wednesday abandoned the sale of its telephone book division after debt slashing efforts worked better than expected. The unit, DeTeMedien, is valued at [Euro]1.1 billion ($1.2 billion). Bonn-based Telekom has pledged to cut its [Euro]53 billion debt to 3 times Ebitda by year's end; an unexpected second-quarter profit has eased …

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