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Ron Sommer

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BUSINESS
July 15, 2002 | Reuters
The German government revived over the weekend its stumbling campaign to oust Deutsche Telekom Chief Executive Ron Sommer by fielding a replacement candidate well-placed to win key trade union backing. A source familiar with the situation said Chancellor Gerhard Schroeder's center-left government, which controls 43% of Europe's largest telecommunications company, wants veteran Deutsche Telekom manager Gerd Tenzer to take over the reins from Sommer.
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BUSINESS
July 15, 2002 | Reuters
The German government revived over the weekend its stumbling campaign to oust Deutsche Telekom Chief Executive Ron Sommer by fielding a replacement candidate well-placed to win key trade union backing. A source familiar with the situation said Chancellor Gerhard Schroeder's center-left government, which controls 43% of Europe's largest telecommunications company, wants veteran Deutsche Telekom manager Gerd Tenzer to take over the reins from Sommer.
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BUSINESS
March 31, 1995 | TYLER MARSHALL, TIMES STAFF WRITER
The question is there for the asking: Is Ron Sommer the next superstar of German industry? Or is he merely a flashy future has-been, destined to buckle under the load of carrying Europe's largest telecommunications firm into the 21st Century? Whatever the answer, the decision Wednesday to name Sommer chairman of Deutsche Telekom has raised more than a few eyebrows in the clubby, predictable world of German industry.
BUSINESS
March 31, 1995 | TYLER MARSHALL, TIMES STAFF WRITER
The question is there for the asking: Is Ron Sommer the next superstar of German industry? Or is he merely a flashy future has-been, destined to buckle under the load of carrying Europe's largest telecommunications firm into the 21st Century? Whatever the answer, the decision Wednesday to name Sommer chairman of Deutsche Telekom has raised more than a few eyebrows in the clubby, predictable world of German industry.
BUSINESS
November 18, 1996 | From Bloomberg Business News
Deutsche Telekom said Sunday that it sold its shares at 28.50 marks each, raising as much as $13.2 billion for the world's third-largest telecommunications company in one of the biggest initial public offerings ever. Telekom sold 623 million shares, or about a 24% stake, toward the upper end of the 25- to 30-mark expected price range to the public and employees. The share price values Telekom at about $49.7 billion and ushers in a new era for the company and for the German equities market.
BUSINESS
May 29, 2002
Deutsche Telekom Chief Executive Ron Sommer, facing investor criticism after the stock fell to a record low last week, said he'll cut 30,000 jobs, or 11% of the company's work force. The former German monopoly has posted operating losses for six quarters.
BUSINESS
July 10, 2002 | Bloomberg News
Shares in Deutsche Telekom rose on growing speculation that Chief Executive Ron Sommer will be replaced after leading an expansion that has saddled the telecom giant with a huge debt load. The stock closed up 6.8% on the Frankfurt exchange, which was down overall, and rose 73 cents to $11.10 on the NYSE. The shares held their gains even after the government, Telekom's biggest shareholder with a 43% holding, denied a report it offered the job to a veteran auto executive.
NEWS
April 20, 1999 | From Associated Press
Telecom Italia and Germany's Deutsche Telekom are expected to announce today that they are merging in a mega-deal that would create a new global competitor to U.S. giants such as AT&T. The move, which pairs two former state monopolies, would be subject to intense regulatory scrutiny and would undoubtedly present the companies with political and cultural obstacles.
BUSINESS
March 27, 2000 | Reuters
Deutsche Telekom appeared poised to fortify its information technology activities after weekend reports that it that seeks to add Unisys Corp. to its takeover list after winning the bid for Debis Systemhaus, the information technology unit of auto maker DaimlerChrysler, according to German magazine Focus. A spokesman for DT declined to comment Sunday on the report, and no Unisys spokesman was reachable for comment.
BUSINESS
March 2, 2000 | From Bloomberg News
Deutsche Telekom and long-distance provider Qwest Communications International Inc. are in merger talks as Deutsche Telekom seeks access to the world's largest telecommunications market, USA Today reported. Talks between Deutsche Telekom Chief Executive Ron Sommer and Qwest Chairman Joseph Nacchio and founder Philip Anschutz have heated up, the paper said, citing unidentified sources close to the companies. Qwest shares surged $11.
BUSINESS
October 11, 1999 | (Associated Press)
Deutsche Telekom, seeking a major international partner, is reportedly in talks with Ameritech Corp. and SBC Communications, whose merger has just been cleared by U.S. authorities. German newspaper Welt am Sonntag gave no details on what linkup might be planned. Deutsche Telekom spokesman Ullrich Lissek said: "Right now, everybody is negotiating with everybody. But we don't get involved in speculation."
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