10 retail shareholders claim they have jointly lost DM80,000 ($37,000). They say that Mr Sommer failed to inform the public about a E2 billion write-down on the group’s real estate so as not to negatively impact a share offering last June.
Mr Sommer noted that the value of the company’s estate has been published in all share offering prospectuses which had been fully audited and approved. He expressed his lack of concern in the proceedings.
Mr Sommer also said that falls in the share price of similar companies suggested that the problem was not with Deutsche Telekom’s management.
