Bloomberg News

Ibercaja's Espelosin Bets on France Telecom, Deutsche Telekom

March 06, 2007

Alberto Espelosin, a strategist at Zaragoza Spain-based Ibercaja Gestion, which oversees about $7 billion, comments on the outlook for Deutsche Telekom AG (DTE) and France Telecom SA. (FTE) Espelosin spoke today in an interview in Madrid.

``The worst is over for France Telecom and Deutsche Telekom. As the two operators focus on reducing debt, cash flow is going to increase. Also, both have too many workers and despite all the domestic labor laws and hurdles, both will end up cutting jobs and reducing costs.

``For investors seeking a long-term bet, these companies are one of the most reasonable options available in Europe.''

To contact the reporter on this story: Gemma Gazulla at ggazulla@bloomberg.net

To contact the editor responsible for this story: Paul Tobin at at ptobin@bloomberg.net


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