Deutsche Telekom sells remaining 7.3 pct stake in SES Global

FRANKFURT (AFP) - Deutsche Telekom said it had sold its remaining 7.3 percent stake in SES Global, the world's leading satellite operator, for approximately 345 million euros (449.5 million dollars).
The sale amounted to 42.9 million shares.
"This will mainly go towards further reducing debt," Deutsche Telekom said.
The German communications giant has now disposed of its entire stake in SES after previously selling 34.7 million shares, or 5.9 percent of the company, as part of an SES Global placement and listing on the Paris stock exchange in May this year.
That sale generated about 260 million euros.
Deutsche Telekom still has a 3.4 percent stake in satellite operator Intelsat, but also wants to sell it.
Deutsche Bank, Germany's largest bank, managed the sale.

11/17/2004 - 19:00 GMT - AFP