Deutsche Telekom has hired investment bank Morgan Stanley to sell its property management unit DeTe Immobilien, newspaper Financial Times Deutschland (FTD) reported on Monday. According to the paper, the first round of bidding for Germany's leading property manager has already been completed, with German construction company Hochtief and Australian bank Macquarie emerging as potential buyers for DeTe Immobilien. The paper said other German and Anglo-Saxon property managers have also expressed interest in the asset. DeTe Immobilien reported annual sales of EUR 950 mln in 2007 and has about 6,800 employees.
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