{
  "id": 13848835,
  "title": "Comment: €138 billion in debt – Telekom is doing the opposite of what would be necessary",
  "url": "https://urgent.news/2026/10/12/kommentar-138-milliarden-euro-schulden-die-telekom-tut-das-gegenteil",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T02:10:02.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/meinung/kommentare/kommentar-138-milliarden-euro-schulden-die-telekom-tut-das-gegenteil-von-dem-was-noetig-waere/100260751.html"
  },
  "original_language": "de",
  "account": "Fresenius had net financial debt of 24.7 billion euros at the end of 2022. The healthcare company issued a 500 million euro bond in 2023 with a 5.125 percent coupon. Fresenius' debt has since decreased to 10 billion euros, allowing it to benefit from lower interest rates. In contrast, heavily indebted companies like Eon and Deutsche Telekom are facing higher interest rates on their bonds, with Eon's 1 billion euro bond issued in 2024 now yielding 4.8 percent and Deutsche Telekom's 2025 bond now yielding 4.8 percent.",
  "summary": "One Dax group is reducing debt, while the other pays dividends and buys back shares. The stock exchange and the bond market show which strategy is now bitterly regretted.",
  "key_points": [
    "Fresenius accumulated 24.7 billion euros in net financial liabilities in 2022/23.",
    "Eon and Deutsche Telekom issued bonds with higher yields than Fresenius.",
    "Both Eon and Deutsche Telekom have higher bond yields (4.8%) than Fresenius (4%)."
  ],
  "editors_take": "While Fresenius successfully halved its group liabilities to secure better terms, Deutsche Telekom and Eon are maintaining high debt levels by issuing long-term bonds that show little effort toward reduction.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}