- Deutsche Telekom Trust (DT Trust), an asset manager for DT’s corporate pension schemes, reduced its stake in outdoor advertising company Ströer SE & Co from 11.3% to 10.1%, reinvesting the proceedings of the sale into other trust assets.
Deutsche Telekom Trust (DT Trust), an asset manager for DT’s corporate pension schemes, reduced its stake in outdoor advertising company Ströer SE & Co from 11.3% to 10.1%, reinvesting the proceedings of the sale into other trust assets. DT Trust also sold call options with maturities running until December 2021 on an additional 1.8% in Ströer stock, which DT claimed demonstrated its faith in future upside for the shares. The sale preceded the March 2020 publication of Ströer’s results for the year to 31 December 2019, where it reported 5% growth in consolidated revenue to €1.6bn, and EBITDA of €570m, up 6% — both in line with guidance. In addition to its outdoor media business Ströer also owns several developing digital businesses, including rapidly growing statistics portal Statista. DT’s stake in the business traces back to the 2015 sale of its InteractiveMedia and T‑Online businesses to Ströer (Deutsche Telekomwatch, #45).
No comments yet