German Telecom Giant Readies Launch Of An Online Sports Book

Telecom giant buys into Deutsche Sportwetten GmbH

Deutsche Telekom is readying a move into online sport betting after agreeing to buy a majority stake in Deutsche Sportwetten GmbH, a betting company previously owned by an Austrian gambling company, which reportedly intends to remain as a minority shareholder.

Confirming the reports in German media Saturday, a spokeswoman for Deutsche Telekom said: "The sport betting market is booming so an entry is of interest to Deutsche Telekom. It is not yet clear what products we will be offering."

The deal is contingent the award of a German licence to DSW.

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