DT Buys Siris for $729M - Nov. 17, 1999

Reporter: David Speakman
Date: 11-17-1999

Company/Ticker/URLDeutsche Telekom
Company #2France Telecom
Company #3British Telecommunications
Company #4Unisource NV USRC:OTC www.unisource.com
Company #5
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Headline: DT Buys Siris for $729M


Germanys Deutsche Telecom, the largest phone company in Europe, plans to buy the Siris unit of Unisource NV for 700 million euros, or about 729 million US dollars.

With the acquisition of Siris, the No. 3 French telecom company, DT moves into the French telecommunications market with an established voice, data and internet client base.

Although already approved by Unisource management, the deal still must face approval by Deutsche Telekoms supervisory board.

Recently DT acquired the U-K wireless One 2 One Limited for 13.5 billion dollars, and MediaOnes eastern European wireless properties for 2 billion dollars.

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