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Economic Moat

Deutsche Telekom has no economic moat

Customers can choose competing phone and internet services without giving up their phone numbers, leaving Deutsche Telekom exposed to rivals’ offers. Its extensive networks are difficult to build, but competing networks and regulated access to its infrastructure prevent that reach from keeping competitors out.

Why Deutsche Telekom has no moat

Limited customer lock-in

Network access is shared

Large rivals remain viable

The explanation behind each reason