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Nov 5, 2009, 8:46 GMT

Deutsche Telekom posts 959 million euro Q3 profit

Bonn - German telecommunications concern Deutsche Telekom said Thursday it boosted its third-quarter profits and turnover largely thanks to its buy-in at Greek counterpart OTE. Bonn-based Telekom said it achieved a net profit of 959 million euros (1.41 billion dollars), up 7.2 per cent on the same quarter of 2008. The net came on operating results of 5.5 billion euros, up 5.2 per cent, while revenues grew at the same rate to 16.3 billion euros, Telekom said. But without the buy-in at the Greek telecom group OTE, both earnings and revenues would have been lower year-on-year, the German company noted.

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