Deutsche Telekom Repeats Targets, `Too Early' for 2009 Guidance

By Chiara Remondini and Tommaso Ebhardt

Oct. 25 (Bloomberg) -- Deutsche Telekom AG, Europe's biggest phone company, reiterated it will meet its targets for 2008 and said it's ``too early'' to make forecasts for next year.

``Everyone is currently facing tough challenges, but in past recessions our sector was fairly resistant,'' Chief Executive Officer Rene Obermann said in an interview in Venice today. ``We keep our targets.'' The CEO said he's ``very confident'' that 2008 guidance will be achieved while giving ``no prognosis at this point in time'' for next year as it's ``too early.''

On Aug. 7, Deutsche Telekom predicted a slide in sales and earnings at its German fixed-line phone unit this year. The company didn't see the need to correct its forecast because of the global economic crisis, Obermann said Oct. 10.

Deutsche Telekom targets adjusted profit of about 19.3 billion euros ($24.5 billion) and free cash flow of 6.6 billion euros for the company as a whole.

To contact the reporter on this story: Chiara Remondini in Milan at cremondini@bloomberg.net.