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News > International
Telekom eyes AOL stake
July 20, 1999: 3:49 a.m. ET

German telecom giant said to be seeking minority investment in AOL
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LONDON (CNNfn) - Deutsche Telekom, continental Europe's largest telecom company, is seeking to buy a minority stake in America Online, the world's largest Internet access provider, according to a press report Tuesday.
     Citing unnamed sources, German business daily Handelsblatt reported that negotiations between the two groups are at an advanced stage. The newspaper reported that Telekom chief Ron Sommer had met with AOL (AOL) head Steve Case several times in the past week.
     The newspaper pointed out that antitrust considerations will play a major role in any deal as Telekom's T-Online is the most popular ISP in Germany, followed by AOL Deutschland. Still, a presence on the Internet is apparently Telekom's highest priority, above even a deal in the telecom sector, the newspaper reported.
     From AOL's point of view a deal could be advantageous if it leads to cheaper call charges for its online customers.
     A 10 percent stake in AOL would cost the German group some $13 billion.
     Deutsche Telekom refused to comment on the report.Back to top

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