Deutsche Telekom plans to increase investments

Deutsche Telekom AG plans capital investments of around €7bn this year, up from 2003's €6.2bn, and also has at its disposal an additional €1.5bn for use in "specific investment opportunities," according to Karl-Gerhard Eick said, the company's chief financial officer .

Eick said at a conference following the release of 2003 results, that such opportunities may include investing in additional spectrum in the US beyond the company's normal capex requirements.

He said that free cash flow will either be used to cut debt further, to increase investments, or for acquisitions.

Chief executive officer Kai-Uwe Ricke said: "Acquisitions are not our main priority at the moment. On the other hand, we cannot rule out the possibility that opportunities might crop up".