Telecommunications giant Deutsche Telekom will sell its majority stakes in six regional German cable television networks to British-US consortium Klesch Liberty Media.
The group did not give the price of the deal, which Telekom said was expected to be completed in the middle of 2001, but the Wall Street Journal Europereported the consortium had agreed to pay up to euro five billion.
Deutsche Telekom is under enormous pressure to unload assets due to mounting debts and a battered share price.
AFP
