Deutsche Telekom Bids $51 Billion for VoiceStream Wireless

BELLEVUE, Wash., July 25 -- Deutsche Telekom AG is willing to pay almost $51 billion to gain a foothold in the US wireless communications market with the purchase of VoiceStream Wireless, a cell phone company in Bellevue, Wash. The acquisition would make VoiceStream Wireless part of Deutsche Telekom's mobile telephony group, a subsidiary of Deutsche Telekom AG.
While the boards of both companies have approved the agreement, it is subject to US regulatory approvals. Some analysts believe that US politicians may find problems with the fact that the German government owns 45 percent of Deutsche Telekom. After news of the $51 billion acquisition hit Europe on Monday, Deutsche Telekom's stock went down more than 10 percent.