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U.S. wireless spectrum auctions may have big implications for Deu...

U.S. wireless spectrum auctions may have big implications for Deutsche Telekom (DT), Moody’s Investors Service said Mon. Moody’s already has factored potential upfront costs of any licenses subsidiary T-Mobile wins into DT’s A3 and Prime-2 ratings and stable outlook,…

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it said: “DT has the capacity to accommodate these investments without any… adverse impact on its rating given the strength of its future free cash flow generation.” T-Mobile likely will remain DT’s “main growth engine,” Moody’s said.