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 BERLIN (AP) - Deutsche Telekom AG issued a profit warning Sunday for this year, cutting its earnings outlook as it faces fierce competition in Germany and absorbs the impact of a strong euro.
The Bonn-based company said it now expects 2007 adjusted earnings before interest, taxes, depreciation and amortization of 19 billion euros ($24.6 billion) — down from a previous forecast of 19.7 billion to 20.2 billion euros ($25.5 billion to $26.1 billion).
The change resulted from "the extremely tough domestic competitive environment and the recent development in foreign exchange rates," a company statement said.
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