SK Telecom, the largest provider of wireless phone service in South Korea, is in talks to acquire Sprint Nextel, the troubled U.S. wireless carrier, according to people familiar with the talks.

T-Mobile USA is suing Starbucks, saying the coffee shop chain secretly colluded with AT&T to offer free WiFi Internet access in its cafes despite an exclusive agreement with T-Mobile.

Deutsche Telekom looked set to complete plans to buy a stake worth nearly 3 billion euros ($4.6 billion) in Greece’s former phone monopoly.

Telecommunications, consumer goods, banking and the drinks business have quarterly earnings in common, as a flurry of companies, such as Deutsche Telekom, Unilever, UniCredit and Diageo all reported results Thursday.

When Rene Obermann took over Deutsche Telekom at the end of 2006 he was tasked with the firm's struggling domestic operations. But his non-domestic challenges have been—and continue to be—plentiful.

Deutsche Telekom fell 1.7 percent in Germany Monday following a weekend report that it is interested in buying Sprint Nextel.

Deutsche Telekom vowed on Wednesday to fight continued sales and earnings declines at its traditional fixed-line business, aiming to stabilize the business by 2010.

Deutsche Telekom will buy a 20 percent stake in Greece's largest phone company, OTE, for 2.5 billion euros ($3.33 billion) and aims to take full control of the company as it fuels growth via acquisitions.

Deutsche Telekom confirmed its 2008 outlook on Thursday after restructuring costs caused a slight drop in 2007 core earnings and its CEO told CNBC Europe he was optimistic that the company will withstand a slowdown in the U.S.

No. 3 U.S. mobile-service provider Sprint Nextel is expected to offer flat-rate calling plans at up to a 40 percent discount to its rivals, hurtling the industry into a price war, analysts said on Wednesday.

The Societe Generale trading scandal is in full swing, as the lawyer of jailed trader Jerome Kerviel said this week that his client should be released to be able to defned himself. Another scandal, this time involving investigations into whether rich German businessmen have been dodging taxes, has started to unfold. Read the week's European stories.

Deutsche Post Chief Executive Klaus Zumwinkel is being investigated for suspected tax evasion, a source close to the investigation said on Thursday as police raided his home and offices.

The World Mobile Congress will be concentrating on how to combat slowing growth in the sector.

The World Mobile Congress will be concentrating on how to combat slowing growth in the sector.