Deutsche Telekom CEO: We’re well placed to drive European consolidation

Timotheus Hoettges, Chief Executive Officer of Germany's telecommunications giant Deutsche Telekom AG addresses the company's annual news conference in Bonn, Germany

Deutsche Telekom (DTEGn.DE) is well placed to drive European industry consolidation, CEO Tim Hoettges said on Thursday, thanks to strategic execution that has lifted its market value above that of its peers.

Hoettges said the group’s market capitalisation had grown to 72 billion euros (65 billion pounds) on his seven-year-old watch, outgrowing European peers Vodafone (VOD.L), Telefonica (TEF.MC) and Orange (ORAN.PA).

“We have created a currency (in the form of our shares) that protects us against possible takeovers, and a currency that we can also put to work,” added Hoettges.

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