The German telecommunications giant, Deutsche Telekom, is to list part of its Internet services provider, T-Online, in mid-April. Deutsche Telekom said it will retain a "clear majority stake" in the company.
The cash raised will be used to finance Deutsche Telekom's further expansion inside and outside Germany. The German carrier had valued T-Online at between €15 billion (£12 billion) and €17 billion in a preliminary valuation.
T-Online is currently enjoying rapid growth. In just two years it has been able to double the number of subscribers to 4.2 million.
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