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Deutsche Telekom shares drop sharply after earnings warning

Deutsche Telekom shares drop sharply after earnings warning

Shares in Deutsche Telekom AG were down sharply on Monday following a warning from the company over the weekend that it was cutting its earnings outlook in the face of fierce competition in Germany and the negative impact of a strong euro.
In morning Frankfurt trading Telekom shares were down 5.5 percent to euro13.39 (US$17.27) amid an otherwise little-changed market.
The Bonn-based company said Sunday that it was revising its 2007 adjusted earnings expectations before interest, taxes, depreciation and amortization of to euro19 billion (US$24.6 billion) _ down from a previous forecast of euro19.7 billion-20.2 billion (US$25.5 billion-US$26.1 billion).


Updated : 2021-03-05 06:19 GMT+08:00