Deutsche Telekom writes down stake in Britain’s BT by €2.2 billion

Deutsche Telekom wrote down the value of its stake in Britain’s BT by €2.2 billion ($2.3 billion), pushing it to a fourth-quarter net loss worth €2.12 billion from a profit of €946 million a year earlier.

The German telecoms provider registered a 2 percent increase in fourth-quarter adjusted core profit (EBITDA) to 5.26 billion euros on Thursday, driven by its T-Mobile US unit but also lifted by a 3 percent increase in German adjusted EBITDA.

Source: Reuters