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| Deutsche Telekom's boss resigns | Deutsche Telekom's boss resigns |
| (about 1 hour later) | |
| Deutsche Telekom's shares rose 3% in Monday morning trading after the news that its chief executive had resigned. | |
| Europe's largest telecoms group by sales, Deutsche Telekom said on Sunday that Kai-Uwe Ricke would be standing down with effect from Monday. | Europe's largest telecoms group by sales, Deutsche Telekom said on Sunday that Kai-Uwe Ricke would be standing down with effect from Monday. |
| It gave no reason for Mr Ricke's departure but the move comes days after the firm unveiled poor results. | It gave no reason for Mr Ricke's departure but the move comes days after the firm unveiled poor results. |
| Deutsche Telekom said last week that its profits in the three months to 30 September were down 34% on a year ago. | Deutsche Telekom said last week that its profits in the three months to 30 September were down 34% on a year ago. |
| The firm has been hit by increased competition in its main German market. | The firm has been hit by increased competition in its main German market. |
| Legal row | Legal row |
| Mr Ricke's successor has yet to be officially announced, but it is expected to be Rene Obermann, the boss of T-Mobile, Deutsche Telekom's mobile phone unit. | Mr Ricke's successor has yet to be officially announced, but it is expected to be Rene Obermann, the boss of T-Mobile, Deutsche Telekom's mobile phone unit. |
| In addition to its falling profits, Deutsche Telekom is also currently embroiled in a row with French media group Vivendi. | In addition to its falling profits, Deutsche Telekom is also currently embroiled in a row with French media group Vivendi. |
| Vivendi has filed an official complaint against Deutsche Telekom's purchase of a 48% stake in Polish telecoms firm PTC from another Polish company, Elektrim. | Vivendi has filed an official complaint against Deutsche Telekom's purchase of a 48% stake in Polish telecoms firm PTC from another Polish company, Elektrim. |
| The French firm, which itself owns a stake in PTC, insists that Elektrim had no right to sell Deutsche Telekom the stake as it was jointly owned with Vivendi. | The French firm, which itself owns a stake in PTC, insists that Elektrim had no right to sell Deutsche Telekom the stake as it was jointly owned with Vivendi. |
| Deutsche Telekom insists the deal was sound. | Deutsche Telekom insists the deal was sound. |