Cegetel chief rumoured to head DeutscheTelekom's T-Com

25th August 2004, Comments 0 comments

FRANKFURT, Aug 25 (AFP) - Frank Esser, the German head of French telecoms group SFR-Cegetel, is the favourite candidate to take over as head of T-Com, the weekly Focus Money reported on Wednesday, sparking a denial from SFR.

FRANKFURT, Aug 25 (AFP) - Frank Esser, the German head of French telecoms group SFR-Cegetel, is the favourite candidate to take over as head of T-Com, the weekly Focus Money reported on Wednesday, sparking a denial from SFR.

T-Com is the troubled fixed networks division of German telecommunications giant Deutsche Telekom and SFR is a unit of French media and communications group Vivendi.

Esser "had already signed a contract for the job at the end of 2002," the magazine quoted an internal source as saying in an article to be published on Thursday but released in advance.

Nevertheless, Esser could be expensive for Deutsche Telekom to hire because "he has big fat stock options from Cegetel," the magazine quoted an executive of the German giant as saying.

However, in Paris an SFR said that his firm "formally denied the rumour of Franck Esser's departure for Deutsche Telekom as reported in German magazine Focus Money".

Deutsche Telekom has been looking for someone to turn T-Com around since the beginning of the summer, press reports have suggested.

© AFP

Subject: French news

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