Deutsche Telekom in €6bn loss on US deal

Deutsche Telekom has been pushed into a €6.9 billion net loss after an impairment charge resulting from the merger of its US operations with MetroPCS, but stuck to full-year guidance given otherwise solid third-quarter results. Third-quarter revenue at the largest German telecoms group by customer numbers dipped slightly to €14.7 billion on the back of better than expected but still declining sales in its core European operations, which have been hit by worsening economic conditions. The Bonn-based company emphasized that the €6.9 billion net loss, down from a profit of €1.1 billion a year earlier, was because of a special accounting factor that caused an impairment charge of €7.4 billion at T-Mobile USA in the period.