Deutsche Telecom (NYSE: DT) said on Wednesday that Citigroup (NYSE: C) has been appointed as its new corporate broker in Britain in order to assist with investor relationships, according to a report from the New York Times.
In a statement, CFO Tim Hoettges said that “This appointment reflects Deutsche Telekom’s strong focus on shareholder communication and returns.”
The company explained that corporate broking is a long-standing and successful practice in the U.K. market and that Citigroup will advise them on all aspects relating to their relationships with existing shareholders and prospective new investors.
The statement added, “Amongst other things, Corporate Brokers typically assist their clients in investor relations matters like 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.”
