KfW Divests 110 Million Deutsche Telekom Shares
By Helena Smolak
German state-owned KfW sold 110 million of its shares in Deutsche Telekom for 2.49 billion euros ($2.72 billion) to free up funds for investment in state-owned railway operator Deutsche Bahn.
The investment and development bank said late Monday that the stake it holds together with the German government stood at 27.8% following the divestment, and they remain the largest shareholders of the telecommunications company.
KfW had already sold 22.4 million shares so far in the second quarter, before this latest divestment, the lender said.
Deutsche Telekom shares traded at EUR22.64 after market close.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
June 04, 2024 01:54 ET (05:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now