German telecom giant Deutsche Telekom AG (DTEGY.PK) confirmed the Group's growth forecasts. Ahead of the shareholders' meeting of the company, departing Chairman of the Board of Management René Obermann pointed out that the company is actually increasing its capital expenditure to almost 30 billion euros in the next three years.
By 2015, the growth areas should be contributing 40 to 45 percent of total revenue, compared with 24 percent in 2010. The main driver is mobile Internet, where revenue is to grow to around 10 billion euros by 2015.
Last December, René Obermann announced his resignation with effect from December 31, 2013. The company said its Supervisory Board officially appointed the current Chief financial officer and since January 1, 2013 deputy Chief Executive Officer, Timotheus Höttges, as Chief Executive Officer with effect from January 1, 2014. At the same time, Thomas Dannenfeldt was appointed his successor to the position of Chief financial officer. The Supervisory Board also extended the contract of Niek Jan van Damme, head of the company's German operations, ahead of time.
The Supervisory Board and Board of Management have proposed a dividend of 0.70 euros per share for 2012.
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