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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Telekom AG    DTE   DE0005557508

DEUTSCHE TELEKOM AG

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Deutsche Telekom Unit To Buy Stake In Asian Property Portal -Report

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06/08/2012 | 03:39am EDT

German telecommunications company Deutsche Telekom's (>> Deutsche Telekom AG) unit Immobilienscout24 is purchasing a large minority stake in the real estate portal Propertyguru, a leading provider in Singapore, Malaysia, Thailand and Indonesia, newspaper Financial Times Deutschland reports Friday.

The newspaper didn't provide financial details, but Propertyguru says on its website it received a strategic investment of 60 million Singapore dollars (around US$47 million) from ImmobilienScout24.

Only Deutsche Telekom's information technology unit T-Systems has a presence in Singapore, China and Malaysia, so far, the report says.

"Asia is a dynamic growth market and as such of great strategic importance to Scout24 group," chief executive of Scout24, Martin Enderle, told FTD. In total, Scout24 has seven portals, including portals for cars, jobs and electronics in addition to the real estate portal Immobilienscout24.

"It opens up opportunities for other segments of the company," head of Immobilienscout24, Marc Stilke, added in regard to further potential expansions, the article says.

Stilke, however, said they weren't considering an expansion into China at this stage.

Propertyguru was founded in 2006 and has 240 employees.

Newspaper website: http://www.ftd.de

-Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

Stocks mentioned in the article : Deutsche Telekom AG
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG -0.84% 14.235 Delayed Quote.-3.29%
DEUTSCHE TELEKOM AG -1.08% 14.175 Delayed Quote.-2.71%
ONE STOP SYSTEMS, INC. 1.19% 1.7 Delayed Quote.-15.84%
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Sales 2020 88 663 M 98 477 M 98 477 M
Net income 2020 4 288 M 4 763 M 4 763 M
Net Debt 2020 93 339 M 104 B 104 B
P/E ratio 2020 15,9x
Yield 2020 4,36%
Capitalization 67 231 M 74 743 M 74 673 M
EV / Sales 2019
EV / Sales 2020 1,81x
Nbr of Employees 206 443
Free-Float 67,7%
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