LONDON (Standard&Poor's CreditWire) Aug. 6, 1999--Standard&Poor's today affirmed its double-'A'-minus long-term corporate credit and senior unsecured debt ratings, and its 'A-1'-plus short-term corporate credit ratings on Deutsche Telekom AG. The affirmations follow today's announcement that Deutsche Telekom has agreed to buy the U.K. mobile telephone operator One2One. The acquisition has been agreed with One2One's current owner, Cable&Wireless PLC (--/Watch Pos/'A-2'), for a total enterprise value of UK8.4 billion (about $13.6 billion), of which UK6.7 billion will be paid in cash, and the remainder debt assumption. Earlier this year, Deutsche Telekom had raised euro 10.6 billion ($11.4 billion) in a share sale intended to fund acquisitions. Since the One2One transaction will be largely equity-financed, it
