Hefty BT writedown, Brexit hits Deutsche Telekom profit

Deutsche Telekom posted a sizeable decline in reported net profit last year, impacted by a multi-billion-euro writedown of the value of its stake in BT, but its U.S. business drove strong revenue and earnings growth and the telco talked up a positive year for fixed broadband in Germany.The German incumbent generated net profit of €2.7 billion in 2016, down by 17.8% on the previous year, having written down its 12% stake in its U…read more on TotalTele.com »