Deutsche Telekom extends bid period

Cable networks available until Aug. 20

BERLIN — German telecommunications giant and main cable provider Deutsche Telekom has extended its deadline for offers to buy its lucrative cable networks from Friday to Aug. 20.

Telekom officials said they wanted to push back the deadline for potential buyers who are interested but need more time to make an offer. The previous date had been criticized by some as being too short.

In June, the group offered to partially sell its regional cable networks to investors who would further develop the network’s broadband capabilities.

Telekom will nonetheless keep a 25% stake in the network.

Big-name giants like Bertelsmann, Mannesmann, Deutsche Bank and Microsoft are among the parties that have expressed interest.

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