Deutsche Telekom
The Deutsche Telekom AG (abbreviated DTAG) is the biggest German telecommunications company. It was formerly the telecommunications branch of the state-owned monopolist Deutsche Bundespost, which was split into three parts and privatized in 1996.
All subsidiaries of the Telekom have a name starting with "T-".
- T-Com, covering the conventional telephone network
- T-Mobile, the mobile phone subsidiary
- T-Online, the internet branch
- T-Systems, for large business costumers, also including the R&D department
Deutsche Telekom also holds substantial interests in other telephone companies, including the Eastern European subsidiaries Slovak Telecom (Slovakia), MATÁV (Hungary), and Hrvatski Telekom (Croatia), which are now fully consolidated into T-Com.
On March 10, 2003, Deutsche Telekom reported an annual loss of 24.6 billion euros due to the depreciation of intangible assets.
On July 16, 2002 the former CEO Ron Sommer stepped down due to pressure and dissatisfaction from stock holders and the German government. For a transitional period of 6 months, the 72 year old Helmut Sihler was appointed as his successor. On November 15, 2002 Kai-Uwe Ricke, former chief of the Deutsche Telekom subsidiary T-Mobile, was appointed CEO of Deutsche Telekom AG.
