OREANDA-NEWS. Deutsche Telekom said on Thursday it wants to cut annual costs by 1.8 billion euros (\$2.02 billion) by 2018, a 75-percent drop compared with 2014 expenses.

Chief Financial Officer Thomas Dannenfeldt told investors the target excluded T-Mobile US Inc, in which Deutsche Telekom holds a 66.3 percent stake.

Dannenfeldt said about 700 million euros would come from IT savings, while sales & marketing were expected to save about 400 billion euros.

Another 400 million euros in savings are expected at the company's network business.

Deutsche Telekom is in the process of creating a pan-European infrastructure based on internet protocol.

Dannenfeldt reiterated that Deutsche Telekom did not plan to make major acquisitions into new geographical or product areas.