T-Mobile bids €1.3B for Austria's tele.ring

Deutsche Telekom's wireless business, T-Mobile, has launched a €1.3 billion bid to acquire Austrian mobile phone carrier tele.ring from US telecom Western Wireless. The supervisory boards of Deutsche Telekom and T-Mobile will meet on Thursday to discuss the deal. T-Mobile bested a lower offer from US venture capital fund Permira.

For more on T-Mobile's bid for tele.ring:
- see this story from AFX