Fergie's Tech Blog

Blackstone Buys $3.3B Stake in Deutsche Telekom

John Blau writes on InfoWorld:

The Blackstone Group, a private equity company, has agreed to purchase a 4.5 percent stake in Deutsche Telekom, in a move to become a major shareholder in Europe's largest telecommunications provider, the companies said Monday.

Blackstone, which is located in New York, aims to be a long-term investor in the company and offer support, particularly at the supervisory board level, in "executing a strategy of long-term value creation for all shareholders," said Blackstone Chairman and Chief Executive Officer Stephen Schwarzman, in a statement.

posted by Fergie @ 4/24/2006 11:40:00 AM