Fitch affirms Deutsche Telecom

Fitch Ratings said it affirmed Deutsche Telecom AG's ratings at senior unsecured A- and short-term F2. The outlook is stable. This action follows the announcement that the company plans to merge with T-Online International AG.

This rating action reflects Fitch's view that the intended merger between Deutsch Telecom and T-Online will be funded and completed in a manner consistent with the assigned rating.

The merger will not affect the Deutsch Telecom group's consolidation area, with the major impact being a reduction in minority interests and additional net debt to reflect the cash payments to shareholders.

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