German Government Regards Talk On Sprint Nextel Buy 'Rumor'

FRANKFURT -(Dow Jones)- German Finance Minister Peer Steinbrueck said Monday that talk on a possible takeover of U.S. Sprint Nextel by Deutsche Telekom is a "rumor" in his view.

"I regard this as a rumor," Steinbrueck told reporters, when asked about media reports claiming that the German telecom giant was mulling to buy Sprint Nextel. The move could make the company's U.S. wireless arm, T-Mobile USA, market leader in the U.S.

Germany's government controls a 15% stake in Deutsche Telekom directly and holds another 17% via state-owned bank KfW Bankengruppe.

Steinbrueck was speaking on the sidelines of a symposium on public finances organized by the Christian Democratic Union's Economic Council.

-By Andrea Thomas and Roman Kessler, Dow Jones Newswires; +49 30 2888 410; andrea.thomas@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 5th May 2008