Deutsche Telekom, which is on Thursday expected to announce its dividend levels for 2004 amid steady rises in core earnings, is believed tobe considering off loading its remaining 25 per cent stake in Russia's MTS as it continues to focus on Europe and the US.

Deutsche Telekom on Wednesday declined to comment on its plans for the Russian wireless operator. It was unclear whether it would gradually reduce the stake or sell it in one piece or what the timing of any move would be.