Shortly after the third IPO in 2000, the first lawsuits were filed against Telekom by shareholders.
(Photo: dpa)
Frankfurt After almost 20 years, Deutsche Telekom is getting closer to a solution in a dispute with thousands of small shareholders. The Frankfurt Higher Regional Court agreed on Tuesday to a settlement proposal by the Bonn-based group: By mid-2022, the approximately 16,000 plaintiffs should now receive an offer from Telekom.
The Dax group could face expenses in the three-digit million range. “The Senate advises everyone involved to conclude this settlement,” said the presiding judge, Bernhard Seyderhelm.
Shortly after the third IPO in 2000, the first lawsuits were filed against Telekom by shareholders. They complained that the company had made false statements in the prospectus in connection with its stake in the US company Sprint. According to a ruling by the Federal Court of Justice in 2014, the risks related to Sprint were not adequately described.
More: 25 years of the Telekom IPO: Why the T-Share could rise now of all times.
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