Germany's Bank for Reconstruction (KfW) said Tuesday its sale of stocks and warrants in telecoms giant Deutsche Telekom brought in some four billion euros (4.95 billion dollars). The state-owned KfW said that in reducing its stakeholding in Telekom from 16.7 per cent to 10.4 per cent, it sold 199.34 million T-Aktie shares at 15.05 euros. This brought in three billion euros, in addition to the one billion euros' worth of warrants which investors may later convert into Telekom shares, Frankfurt-based KfW said. With the sale, the German state's share in Telekom was reduced to around 36.4 per cent, from the previous 43 per cent. The German government holds 26 per cent of Telekom directly and the rest through the KfW. Meanwhile the Finance Ministry in Berlin confirmed plans for a further sale of Telekom stocks but said the date was still open. The ministry said the sale depended on market conditions and might only take place next year. The comment came after the Munich daily Sueddeutsche Zeitung had reported that Berlin was planning to put up to five billion euros' worth of Telekom shares on the market in November.
