Deutsche Telekom to vote restructuring through this year

 Deutsche Telekom to vote restructuring through this year Cologne, Germany - European telephones giant Deutsche Telekom is to summon shareholders this year to vote through a major reorganization that will fold its T-Mobile wireless business back into the main company, Telekom said Thursday in Cologne.

At a shareholder meeting in Cologne, chief executive Rene Obermann said executive responsibilities would be re-allocated, but the move did not mean any job losses in the company's German home market. Obermann said he was concentrating on "modernizing" the company.

T-Mobile International AG, the subsidiary that runs the huge T-Mobile USA network, is to become a division of Telekom, and an extraordinary general meeting later this year is to approve the various demergers.

As the mobile-phone business matures, major telecommunications companies have decided they need to offer landline and wireless access as a single package. In a decade or so, customers may be able to make both types of calls using a single handset.

Telekom found that keeping the two businesses separate led to competition between them, which reduced overall profit. It is keen to follow the one-stop-shop trend, begun in Germany by its rival Vodaphone. (dpa)