DEUTSCHE TELEKOM PROFITS ERODED OVER FIRST HALF YEAR.

At the end of July, Deutsche Telekom, the world's third telecommunications operator announced a decline in both profits and turnover for the first half year as a result of increasing competition from new private operators. The semi-public company has indicated that massive cuts in tariffs to defend market share in Germany have undermined turnover in fixed telephony to an extend not offset by mobile communications and the Internet. Net profits for the first half of 1999...