Another company looks for a way out of property

Following on JP Morgan's announcement last week that it is looking for a 'corporate PFI' partner, Deutsche Telekom is reported to be looking at ways to shed its properties.

The German telecoms giant has a Europe-wide portfolio worth about £11bn.

A strategy, once fully in place, could take several years to implement. In the meantime, the company is following a plan similar to BT's in that it is vacating a range of buildings it no longer needs.

Deutsche Telekom has been under pressure to improve performance in its core business areas and has a number of initiatives underway, including personnel recruitment and training programmes.

De Te Immobilien, its property arm has been advising on portfolio strategy and also investigating new business opportunities in the developing German FM market.

Elliott Chase