SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2005

DEUTSCHE TELEKOM AG

(Translation of registrant’s name into English)

Friedrich-Ebert-Allee 140

53113 Bonn

Germany

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ý  Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7):  o

Indicate by check mark whether the registrant by furnishing the information contained in this form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o  No  ý

This report is deemed submitted and not filed pursuant to the rules and regulations of the Securities and Exchange Commission.

First half of 2005

First half of 2005

(a)                                  For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

(1)                                  All figures have been shown according to IFRS since the first quarter of 2005. For further information, please refer to “Transition to IFRS,” page 70 et seq.

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Deutsche Telekom at a glance.

At a glance

Number of employees at balance sheet date

Number of fixed-network and mobile customers

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(a)                                  For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, adjusted EBITDA margin as well as special factors affecting profit/loss and the adjusted net profit, please refer to “Reconciliation of pro forma figures,” page 43 et seq. For detailed information and calculations of the figures for 2004, please refer to the reconciliation report “Historical figures according to IFRS. New Group organization.”

(b)                                 Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses.

(c)                                  One ADS (American Depositary Share) corresponds in economic terms to one ordinary share of Deutsche Telekom AG.

(d)                                 Investments in property, plant and equipment, and intangible assets (excluding goodwill) as shown in the cash flow statement.

(e)                                  For detailed information, please refer to “Reconciliation of pro forma figures”, page 43 et seq.

(f)                                    Telephone lines of the Group (including ISDN channels), including for internal use. Including Telekom Montenegro as of the second quarter of 2005; prior-quarter and prior-year comparatives have not been adjusted.

(g)                                 Number of customers of the fully consolidated mobile communications companies of the Mobile Communications business area. MONET (Telekom Montenegro Group) customers included for the first time as of June 30, 2005. Prior-period comparatives have been adjusted.

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Excellence.

A far-reaching transformation program known as the Excellence Program for Deutsche Telekom was launched at the beginning of 2005. It supports the successful realization of the growth potential that emerged following the strategic realignment of the Group towards three growth areas: Broadband/Fixed Network, Mobile Communications and Business Customers.

Deutsche Telekom is pursuing the goal of becoming Europe’s fastest growing integrated provider of telecommunications services on the basis of the opportunities emerging from the realigned structure. The key to achieving sustained profitable growth is to orient the Group more consistently to the needs of the customer and increase customer satisfaction.

The Excellence Program has three key elements, which, if successfully implemented, will help Deutsche Telekom achieve its strategic goals:

•              Growth programs of the three strategic business areas;

•              Group-wide initiatives to tap the potential of the entire Group; and

•              Changing our corporate culture on a sustained basis to achieve excellence from the customer’s perspective.

Growth programs.

In the Broadband/Fixed Network strategic business area, “Re-Invent” is T-Com’s program for achieving a profound change. The cornerstones of the program are activities for more innovation and growth, measures aimed at increasing efficiency and quality as well as a major change in culture, putting the customer at the center of our thinking. For T-Com, expanding its portfolio of integrated products on the basis of broadband communication is an important factor in the drive for growth. It is expanding its existing broadband portfolio with this in mind. The introduction of T-DSL 6000, for example, doubles the maximum available downstream bandwidth.

T-Mobile is anticipating future market developments with “Save for Growth.” Savings of approximately EUR 1 billion per year are planned in the medium term, a significant proportion of which will be reinvested in measures to safeguard T-Mobile’s market position and achieve growth targets. The main focuses are: attractive, simple mobile communications rates, further development of the mobile Internet and the seamless integration of various network platforms (seamless mobility). The first results are already apparent for our customers: Besides the new rate variants Relax 50 eco and Relax 100 eco, the range of target group-specific products was further expanded with the CombiCard Teens and the Relax Local rate. The launch of the innovative “web’n’walk” product marked the start of open, easy-to-use mobile Internet access.

With “Focus on Growth”, T-Systems is pursuing its goal of becoming Europe’s leading ICT service provider. This program focuses primarily on improving sales efficiency, enhancing T-Systems’ portfolio of products and services, operational excellence by improving internal processes, increasing efficiency through cost management, and mobilizing employees through hands-on value management. T-Systems’ greater focus on the needs of business customers is also reflected by the new services it provides: The “European Banking Services” industry solution, for example, or additional services for full business process outsourcing.

Group-wide initiatives.

Group-wide initiatives coordinate activities that leverage the benefits of an intelligently integrated

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telecommunications provider through close cooperation between the strategic business areas. The main aims are to focus products and internal processes to an even greater extent on customer needs, and to reduce costs. In the first six months of 2005, for example, considerable progress was made on the implementation of the customer promises, and thus the service provided by hotlines, in T-Punkt stores and via written correspondence was specifically further improved.

Corporate culture.

The successful implementation of the strategic goals is supported by activities aimed at initiating a Group-wide cultural change. For example, all top executives are to spend at least five days a year in direct contact with customers, in working environments such as T-Punkt stores, call centers and technical units. The experience gained to date has already generated potential for further improvements.

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Contents.

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First half of 2005

Developments in the Group.

•                                          Net revenue increased by 3.0 percent, from EUR 28.3 billion in the first half of 2004, to EUR 29.1 billion in the first half of 2005.

•                                          Group EBITDA(2) increased by 5.3 percent year-on-year, from EUR 9.60 billion to EUR 10.12 billion; adjusted for special factors, it increased by 5.7 percent from EUR 9.60 billion to EUR 10.14 billion.

•                                          Profit before income taxes increased by 93.6 percent from EUR 1.8 billion in the first half of 2004 to EUR 3.4 billion in the first half of 2005, and tripled from EUR 0.6 billion to EUR 1.8 billion in a year-on-year comparison of the second quarters.

•                                          Net profit increased by 61.5 percent, from EUR 1.2 billion to EUR 2.0 billion; adjusted for special factors, the increase was 2.0 percent, from EUR 1.9 billion to EUR 2.0 billion.

•                                          Free cash flow(3) before dividend payments was positive again at EUR 0.9 billion, despite increased investment volume amounting to EUR 4.9 billion and increased tax payments of EUR 0.7 billion; down EUR 3.4 billion on the first half of 2004.

•                                          Net debt(4) decreased from EUR 47.1 billion to EUR 44.5 billion compared with the first half of 2004. Net debt increased by EUR 5 billion compared with the year-end due to the higher level of investments amounting to EUR 2.1 billion, expenditures of EUR 1.8 billion to increase the shareholding in T-Online International AG, and the dividend payment of around EUR 2.7 billion.

•                                          Following the upgrade by Moody’s from Baa1 to A3, Deutsche Telekom now has a rating in the “single-A” area with all major rating agencies.

Continued strong customer growth in the second quarter of 2005:

•                                          The number of mobile customers increased by a further 1.9 million; of this increase, T-Mobile USA alone accounted for around 1.0 million.

•                                          Strong growth in broadband lines; 0.4 million new DSL lines, bringing the total to 7.1 million.

•                                          The number of orders received in the Business Customers business area increased 19 percent from EUR 3.3 billion to EUR 3.9 billion.

(2)                                  For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, the adjusted EBITDA margin and special factors affecting net profit/loss after income taxes and the adjusted net profit, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

(3)                                  Deutsche Telekom defines free cash flow as cash generated from operations less interest paid and cash outflows for investments in property, plant and equipment, and intangible assets (excluding goodwill). For calculation of free cash flow, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

(4)                                  For detailed information, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

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Highlights.

Events in the second quarter of 2005.

Group

Merger of T-Online International AG into Deutsche Telekom AG.

•                                          Deutsche Telekom and T-Online signed a merger agreement on March 8, 2005 on the merger of T-Online into Deutsche Telekom. T-Online’s shareholders’ meeting approved the merger agreement on April 29, 2005 with 99.46 percent of the votes cast. The merger agreement did not require the approval of the shareholders’ meeting of Deutsche Telekom on April 26, 2005. The merger will become effective upon registration in the commercial registers of the companies involved. A number of shareholders have filed rescission suits with the Darmstadt ‘Landgericht’ Regional Court challenging the approval resolution of the shareholders’ meeting of T-Online International AG. As a result of these rescission suits, the merger will not be recorded in the commercial register until these suits are resolved.

MATÁV rebranded as Magyar Telekom.

•                                          MATÁV, the Hungarian subsidiary of Deutsche Telekom AG, was renamed Magyar Telekom on May 6, 2005. This rebranding was the final step in the process of introducing the Group brand to the Hungarian market. Consequently, Magyar Telekom will benefit not only from the strong family of “T” brands, which have acquired an international reputation for quality, efficiency and innovation, but the former MATÁV units and subsidiaries are now united under the common roof of the “T” brand. The introduction of the new brand name will be supported by the introduction of innovative new rates.

Deutsche Telekom AG’s rating upgraded.

•                                          Moody’s has upgraded Deutsche Telekom AG’s senior unsecured debt rating by one notch, from Baa1 to A3. This means Deutsche Telekom has ratings of A- or A3 with all major rating agencies, including Fitch (A- – stable outlook), Moody’s (A3 – stable outlook) and Standard & Poor’s (A- – stable outlook). The rating agency Fitch has upgraded Deutsche Telekom AG’s short-term rating from F2 to F1.

Broadband/Fixed Network: T-Com

WiMAX(5) pilot launched in June 2005.

•                                          T-Com plans to further increase broadband coverage with the new wireless WiMAX technology. T-Com has been testing the WiMAX technology under actual operating conditions in the Bonn area since June 29, 2005 in order to assess the possibilities of the new system. The purpose of this pilot project, which is scheduled to run until March 31, 2006, is to determine how a broadband infrastructure with WiMAX can be economically rolled out.

Subscriber lines – Decision of the Federal Network Agency.

•                                          The ‘Bundesnetzagentur’ (Federal Network Agency), the former Regulatory Authority for Telecommunications and Posts, approved a monthly charge of EUR 10.65, as compared to the monthly charge of EUR 11.80 to date, for the most important variant of the subscriber line (copper wire pair) with effect from April 1, 2005. The Federal Network Agency justified the reduction in charges partly on the basis of lower costs of capital, due to lower real interest rates, which fell from 8 percent to 7.15 percent.

(5)                                  The acronym WiMAX stands for “Worldwide Interoperability for Microwave Access,” a standard for broadband wireless access networks based on the IEEE 802.16-2004 microwave standard.

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Broadband/Fixed Network: T-Online

New T-DSL rates.

•                                          In June 2005 T-Online announced improvements to its DSL rate portfolio. By introducing new rates on July 4, 2005, T-Online is sending a strong signal to its competitors. In addition, a bundled product was recently launched for a limited period, which includes the option of combining these rates with a telephone line and traditional fixed-network telephone services from T-Com.

T-Online expands in the fast-growing French market.

•                                          T-Online is building its own network infrastructure in France in order to take advantage of the growth opportunities in the country’s important DSL market. This is the first step, as announced on June 7, 2005, towards implementing T-Online’s declared growth strategy in the European broadband market. After building up a network on the basis of the ADSL 2+ standard, T-Online will proceed with the implementation of a network based on the VDSL2 standard.

T-Online acquires Spanish network operator Albura.

•                                          T-Online’s acquisition of the Spanish network operator Albura (Red Eléctrica Telecommunicaciones, S.A.) in the dynamic growth market of Spain in June 2005 was an important step in the execution of the company’s declared strategy of expanding its business in the European broadband market. This acquisition has given T-Online access to a full-coverage nationwide network as well as its own infrastructure based on local loop unbundling technology, thereby laying the groundwork for the continued roll-out of triple-play products. T-Online paid EUR 35 million for the acquisition of Albura, which has financial liabilities of EUR 26.5 million. T-Online now holds 100 percent of the shares.

Mobile Communications

web’n’walk: T-Mobile launches mobile Internet in Germany and Austria.

•                                          T-Mobile offers open Internet service on mobile phones. The first web’n’walk services are currently available in Germany and Austria. T-Mobile customers are now able to access their favorite web sites to obtain information and utilize entertainment programs while on the move. Four mobile phones equipped with technical features and details designed to further enhance the convenience, usefulness and speed of mobile Internet access are currently available: the Side-kick II, the MDA compact, the Nokia 6680 and the new SDA model. To promote the launch of web’n’walk in Germany, T-Mobile has introduced new, volume-based data options and made the existing offering even more attractive.

T-Mobile USA receives highest honors for excellent customer care performance.

•                                          An independent market study conducted by J. D. Power and Associates named T-Mobile USA the national mobile carrier with the highest level of customer satisfaction in the business customer segment (J. D. Power study, May 5, 2005 www.jdpower.com/cc/telecom/ratings/wireless/Find.jsp). The honors received once again for high-quality customer service are particularly satisfying. For the second year in a row, T-Mobile USA was named the provider with the best customer service of all five national mobile carriers by far (J. D. Power study, June 8, 2005 www.jdpower.com/cc/telecom/ratings/wireless/Find.jsp).

T-Mobile rebranding in Slovakia.

•                                          After EuroTel was renamed T-Mobile Slovensko, the Slovak subsidiary has become the ninth national company to bear the name of Deutsche Telekom AG’s mobile communications subsidiary, T-Mobile. After a three-week rebranding phase, the name change was fully implemented in Slovakia by early May 2005.

Business Customers

T -Systems takes over business operations of ARAG subsidiary ALLDATA Systems.

•                                          Deutsche Telekom’s Business Customers business area acquired the business operations of the IT

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services provider and software developer, ALLDATA Systems GmbH. This acquisition represents another important step in the strategic development of the T-Systems Financial Services industry line into a full-range provider of services to financial and insurance companies. ALLDATA’s products and services will enable T-Systems to offer solutions to the banking and insurance sectors that are tailored to their business processes.

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First half of 2005

Business developments.

Overview.

Net revenue

Deutsche Telekom increased its net revenue in the first half of 2005 by approximately EUR 0.9 billion year-on-year to around EUR 29.1 billion. The Group’s net revenue in the second quarter of 2005 grew by around EUR 0.4 billion or 2.6 percent as compared with the same period in 2004. This revenue growth was influenced by changes in the composition of the Group and exchange rate effects: positive effects of approximately EUR 0.2 billion from changes to the consolidated group – especially T-Mobile Slovensko (formerly EuroTel) and Telekom Montenegro – were offset by negative exchange rate effects also amounting to around EUR 0.2 billion, predominantly from the translation of U.S. dollars (USD).

The main contributor to net revenue was the Mobile Communications business area, where revenue increased year-on-year, both in the second quarter of 2005 and in the first six months of 2005, by around 8 percent respectively. Besides the effects from the first-time consolidation of T-Mobile Slovensko, this increase is mainly attributable to the growing number of customers, particularly at T-Mobile USA.

Revenue in the Business Customers strategic business area in the first half of 2005 developed at the prior-year level, decreasing 2 percent in the second quarter of 2005 as compared with the previous year. The positive development of revenue in the Enterprise Services business unit – particularly in the areas of Computing & Desktop Services and Telecommunications – was unable to fully compensate for the revenue decrease in the Business Services business unit.

The total revenue recorded in the Broadband/Fixed Network business area decreased as compared with the prior-year periods. While revenue at T-Online rose, T-Com posted higher revenue losses. The positive revenue development at T-Online is mainly attributable to the continued systematic development of the broadband market. T-Com recorded offsetting effects: revenue growth from broadband lines based on DSL technology offset by a higher decline in revenue from call minutes. The losses in call revenues are the result of a rising level of fixed-mobile substitution, losses of market share, and price effects as a consequence of a growing number of rate options.

(a)           Total revenue (including revenue between strategic business areas).

(b)           Elimination of revenue between strategic business areas.

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First half of 2005

Contribution of the strategic business areas to net revenue (after consolidation of revenue between strategic business areas)

Mobile Communications generated the most significant proportion of net revenue of the Group, generating a share of more than 46 percent. While the Broadband/Fixed Network business area’s contribution to net revenue decreased slightly to around 38 percent, the Business Customers business area remained at the prior-year level, at just under 16 percent.

Revenue generated outside Germany

In the first six months of 2005, the proportion of revenue generated outside Germany increased by 2 percentage points year-on-year to over 41 percent. At over 42 percent, the proportion of revenue generated outside Germany in the second quarter of 2005 is also higher than in the same quarter in 2004. The key factor behind this increase is the sustained positive development of revenue at T-Mobile USA. Domestic revenue in the first half of 2005 remained at the same level as in the previous year. A slight quarter-on-quarter decrease was recorded.

Profit before income taxes

Profit before income taxes amounted to around EUR 3.4 billion in the reporting period, almost double the figure for the first half of 2004. Year-on-year, profit before income taxes in the second quarter of 2005 more than tripled. In a comparison of both the first half years and the quarters, this was primarily due to the positive development of the gross profit. The rise in revenue and simultaneous reduction of the cost of sales – mainly as a result of the non-recurrence of the impairment of mobile communications licenses in the United States charged in the previous year – resulted in a substantial improvement. The net financial expense also developed positively, largely due to lower interest expense.

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First half of 2005

Net profit

Net profit increased in the first six months of 2005 by around EUR 0.8 billion to approximately EUR 2 billion. This represents an increase of around 62 percent. This considerable growth was largely influenced by the positive development of profit before income taxes. Income tax expense of EUR 1.2 billion had to be taken into account, as compared with an expense of EUR 0.3 billion in the first six months of 2004.

Net profit was not impacted by special factors in any significant way in the first half of 2005, compared with negative special factors of around EUR 0.7 billion in the previous year that were attributable in particular to the impairment of mobile communications licenses in the United States. Adjusted for special factors, net profit increased by approximately 2 percent in the first half of 2005.

EBIT

(a)           EBIT is profit/loss from operations as shown in the income statement.

At EUR 2.6 billion, EBIT in the second quarter of 2005 was double the EBIT of approximately EUR 1.3 billion recorded in the same period of the prior year. Comparing the first half of 2005 with the same period in 2004 shows growth of EUR 1.2 billion to EUR 4.9 billion – an increase of around 34 percent. EBIT increased year-on-year in the Mobile Communications and Business Customers business areas and at Group Headquarters & Shared Services. In the Mobile Communications business area, the non-recurrence of the impairment of mobile communications licenses in the United States charged in the prior-year period amounting to around EUR 1.4 billion had a positive effect. EBIT in the Broadband/Fixed Network business area declined.

EBITDA

EBITDA in the second quarter of 2005 amounted to approximately EUR 5.2 billion. Compared with the second quarter of 2004, this represents an increase of 4.4 percent. EBITDA in the first half of 2005 increased 5.3 percent to EUR 10.1 billion. The decrease in EBITDA in the Broadband/Fixed Network business area was more than offset by higher EBITDA in Mobile Communications and Group Headquarters & Shared Services. EBITDA in the Business Customers business area remained stable at the prior-year level.

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First half of 2005

Adjusted EBITDA

EBITDA in the first six months of 2005 was negatively influenced by special factors amounting, net, to minus EUR 26 million. Special factors consisting mainly of severance and voluntary redundancy payments as well as restructuring expenses had a negative impact in both the first and second quarters of 2005. The second quarter saw positive special factors, in particular from insurance refunds. EBITDA in 2004 was reduced in the first quarter by special factors of EUR 69 million from severance and voluntary redundancy payments and boosted in the second quarter by special factors of EUR 75 million from the sale of Virgin Mobile shares.

Adjusted to exclude these special factors, EBITDA in the second quarter of 2005 amounted to EUR 5.2 billion, an increase of EUR 0.3 billion, or 6.1 percent on the prior-year period. The rise in adjusted EBITDA is mainly attributable to the Mobile Communications business area where higher revenues as a result of customer growth had a particularly positive effect.

The improvement at Group Headquarters & Shared Services is due above all to the lower staff numbers at Vivento and the associated reduction in personnel costs. Adjusted EBITDA in the Business Customers business area decreased slightly despite the positive development of revenue in the Enterprise Services business unit and the success of the measures taken to reduce costs and enhance efficiency. The decrease in adjusted EBITDA in the Broadband/Fixed Network business area is largely the result of revenue losses and T-Online’s expansion strategy on the broadband market, partially offset by cost-cutting measures.

Adjusted EBITDA in the first half of 2005 rose by EUR 0.5 billion year-on-year to EUR 10.1 billion. Besides Group Headquarters & Shared Services, Mobile Communications also recorded a strong increase in adjusted EBITDA. By contrast, adjusted EBITDA declined both in Broadband/Fixed Network and, slightly, in the Business Customers strategic business area.

(a)                                  Deutsche Telekom defines EBITDA as profit/loss from operations excluding depreciation, amortization and impairment losses. For a detailed explanation of the special factors affecting EBITDA, adjusted EBITDA, and the adjusted EBITDA margin, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

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First half of 2005

Free cash flow

In the second quarter of 2005, free cash flow increased by around EUR 0.5 billion year-on-year to EUR 1.8 billion. This improvement is primarily attributable to the increase in the cash generated from operations and the lower interest paid. In the first half of 2005, free cash flow declined by EUR 3.4 billion year-on-year to EUR 0.9 billion. Apart from the changes in working capital and higher tax payments (tax refunds were recorded in 2004), this is due in particular to increased investments, mainly at T-Mobile USA as a result of the acquisition of networks relating to the winding up of the U.S. mobile communications joint venture.

(a)                                  For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

Net debt

Net debt increased by EUR 5.0 billion to EUR 44.5 billion compared with December 31, 2004, with EUR 3.1 billion being attributable to the first quarter and EUR 1.9 billion to the second quarter of 2005. The increase in the first quarter of 2005 is due in particular to the payments at T-Mobile USA relating to the acquisition of network infrastructure and spectrum and to the acquisition of additional shares in T-Online International AG prior to the merger of T-Online into Deutsche Telekom AG. In the second quarter of 2005, dividend payments for the 2004 financial year of approximately EUR 2.7 billion in total resulted in a further increase. This was partially offset by the positive free cash flow.

Year-on-year, net debt declined by around EUR 2.5 billion.

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(a)                                  For detailed information and calculations, please refer to “Reconciliation of pro forma figures,” page 43 et seq.

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First half of 2005

Strategic business areas.

Since the beginning of 2005, Deutsche Telekom has been pursuing its growth strategy under a new Group structure. Through its three strategic business areas Broadband/Fixed Network, Mobile Communications and Business Customers, the Group is focusing on the main growth sectors of the industry, while at the same time sharpening its focus on specific customer segments. The realignment has set the stage for a culture of strict customer focus, which Deutsche Telekom has established as a standard for the entire Group, throughout the world, under a slogan of “customer centricity.” The goal is to create clear added value for customers while ensuring profitable growth for the Company. Deutsche Telekom has thus laid the groundwork for positioning itself as the leading service provider in the industry and the fastest-growing telecommunications company in Europe.

The financial figures of the Group have been presented under the format of the three strategic business areas since the first quarter of 2005. At the same time, the Group’s financial statements have been presented in accordance with IFRS (International Financial Reporting Standards). A detailed description of the new structure of the Group, along with explanations on IFRS reporting, can be found in the Interim Report for the first quarter of 2005 and the reconciliation report “Historical Figures according to IFRS. New Group organization.”

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Broadband/Fixed Network.