Deutsche Telekom (Germany)


 Deutsche Telekom is currently Europe's biggest telecoms company by revenues, but is likely to lose that position to Telefonica in 2011. The company dominates the fixed line and broadband sector in its home market, while aggressive expansion of its wireless subsidiary T-Mobile through acquisition has given the group a commanding position in Central and Eastern Europe as well as a presence in the UK and US. However that shopping spree also created a huge mountain of debt. Telekom's share price tumbled in 2002, causing an outcry from ordinary investors as well as the German government, still its controlling shareholder. That led to the departure of the group's executive chairman. His successor attempted to streamline the group to consolidate its worldwide interests and reduce debt, but performance remained disappointing. He too was forced to resign in late 2006. After several years of wrestling with overall performance, the group took the decision to reduce its mobile presence in the UK by joining forces with Orange and to quit the US mobile market by selling T-Mobile USA to AT&T.  

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