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Deutsche Telekom prepares T-Systems sale

by Mike Robinson

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© Reuters. At the ITS World Congress 2021 in Hamburg (Germany), October 13-2021, a woman with her smartphone passes the logo of Deutsche Telekom, a German telecommunications company. REUTERS/Fabian Bimmer

BERLIN, (Reuters) – Deutsche Telekom is planning to sell T-Systems, its IT services unit in trouble, according to Manager Magazin, citing persons familiar with this matter.

According to the magazine, talks will begin with interested parties in February with an agreement expected by September.

Deutsche Telekom did not respond to the request for comment immediately.

T-Systems, despite its strong performance in telecoms, has suffered from underperformance. Incoming orders dropped 25% due to the coronavirus crises.

Christian Illek from Deutsche Telekom, the finance chief of Deutsche Telekom, said last year that decreased IT spending by airlines and automobile industries would need to be addressed at T-Systems. He also stated that an ongoing turnaround plan for three years was in place.

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