Frankfurt - Europe's biggest telecoms group Deutsche Telekom AG said Thursday it had posted a first-quarter net loss of 1.12 billion euros (1.47 billion dollars), as the German company's earnings had been hit by write-downs for its British mobile phone offshoot.

Deutsche Telekom said the total write-down at T-Mobile UK was about 1.8 billion euros due, the company said, to "the strong economic slowdown and more intense competition in the United Kingdom."

"The figures we are presenting today show a mixed picture," said Telekom chief Rene Obermann releasing the results. "Despite the difficult environment in some markets, we are in a relatively stable position."

The first-quarter net loss followed a net profit of 0.9 billion euros in the first three months of 2008.

Thursday's announcement follows the company's statement last month when it said it was cutting its full year business targets as a result of fierce competition in the group's key markets, including the US. (dpa)