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State Senator Joe Leibham to not seek recount for last week's election

SHEBOYGAN, WI (WHBL) - Joe Leibham will not seek a recount for last week's 6th House District Republican primary. The Sheboygan state senator lost the four man race to State Senator Glenn Grothman by 219 votes, which was close enough to ask for a recount that would have been paid for by local government units. In a statement made Friday afternoon, Leibham said he has contacted Grothman about his decision and wished him well in the November general election.  He adds he is happy of the ...

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Deutsche Telekom's talks to buy GTS stumbling over price: sources

The logo of Deutsche Telekom is pictured on the 266 metre high "Colonia" TV tower in the western German city of Cologne March 25, 2013. REUT
The logo of Deutsche Telekom is pictured on the 266 metre high "Colonia" TV tower in the western German city of Cologne March 25, 2013. REUT

WARSAW (Reuters) - Deutsche Telekom's talks to buy GTS Central Europe are on the verge of collapse over the price tag, which would at least for now derail the German operator's ambitions to expand in the region, sources told Reuters.

Earlier this year, sources said Deutsche Telekom (DT) was close to completing due diligence on a possible bid for GTS, with Polish telecoms group Netia and Czech fund PPF also interested.

DT is looking to the east European market for possible fixed-line or cable targets as it tries to move away from a mobile-only strategy. At the same time, Europe's No.2 telecoms group by sales is wary of overpaying for assets as it is investing billions of euros in its broadband network in Germany and its T-Mobile U.S. unit.

German media had reported DT was considering buying GTS, which runs a fiber optic and data centre network in Poland, Czech Republic, Hungary, Slovakia and Romania, for 600 million euros.

Two market sources with knowledge of the matter said DT, which owns Poland's No.3 mobile telecom T-Mobile Polska, bid 5 times GTS's core profit EBITDA, which would put the offer at above 500 million euros.

The offer was rejected by Innova Capital fund, which controls GTS, the sources said.

"It's not a must-have asset for DT and that's what they showed with their bid," said one of the sources, who asked not to be named.

"At least for the time being, the deal is off," another added.

GTS closed last year with a 4 percent rise in its EBITDA (earnings before interest, tax, depreciation and amortization) to 103 million euros ($140 million) on revenue of 387 million.

Both Deutsche Telekom and Innova Capital declined to comment on the issue.

(Reporting by Adrian Krajewski and Pawel Bernat in Warsaw, and Arno Schuetze in Frankfurt; Additional reporting by Peter Maushagen in Frankfurt; editing by David Evans)