The German government has begun selling a stake worth €2.5 billion in Deutsche Telekom, which is the latest in a series of government moves to exit some of its holdings in companies.
The state-owned German Development Bank (KfW) is offering institutional investors 110 million shares. After that, the ownership of the German Development Bank and the German government becomes 27.8%, but they remain the largest shareholders, while increasing the free circulation of the company’s shares.
Berlin is trying to obtain financing without hindering efforts to save Europe's largest economy from recession, as shares in the train and postal company are also being sold.
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