Deutsche Telekom looking to exit UK mobile business

Deutsche Telekom AG is in the early stages of considering whether to sell its half of U.K. mobile operator Everything Everywhere as it looks to raise cash after a sale of its T-Mobile USA unit didn't go ahead, Bloomberg News reported Thursday, citing unnamed sources.

The German company will first focus on improving operational performance, and has yet to hire investment banks, Bloomberg reported the people as saying.

Options could include a sale to joint venture partner France Telecom, or a process to find a third-party buyer for the entire operator, the people said.Spokesmen for Deutsche Telekom and France Telecom declined comment, Bloomberg reported.

Source: Total Telecom