Citigroup (NYSE:C) Named Corporate Broker of Deutsche Telekom

Deutsche Telekom announced on its Web site today that Citigroup (NYSE:C) had been named the corporate broker for the company.

A corporate broker is unique to Britain, and deals with a variety of the aspects of investor relations; this includes existing shareholders and those potential investors in a company.

For those unfamiliar with the practice, Deutsche Telekom identified in this way on their site:

“Virtually all UK listed companies retain the services of a Corporate Broker to advise them on all aspects relating to their relationships with their existing shareholders and prospective investors around the world. Amongst other things, Corporate Brokers typically assist their clients in investor relations matters such as results presentations and other presentations to the financial markets. A Corporate Broker also supports the identification of new target institutional shareholders and provides its client with regular investor feedback.”

The reason Deutsche Telekom is employing the use of a corporate broker is because of their presence in the UK market, where this type of communication and interaction is expected. It wasn’t clear whether this was something Deutsche Telekom would use outside of the UK, whereas it has expanded in a few instances outside the region.

Deutsche Telekom’s chief financial officer Tim Hoettges said appointing Citigroup as their corporate broker “reflects Deutsche Telekom’s strong focus on shareholder communication and returns.”