According to the forecasts made by analysts, Deutsche Bank is set to suffer because of stagnation in their earnings for this year. The forecasts have come as the telecommunication Company will be joining a list of other service providers in Europe currently battling to defend their native regions.

Talking about the current situation of the organization, the Chief Executive Officer, Deutsche Bank, Rene Obermann, said that the Company has struggled a lot because of the worrying economic conditions, taxes imposed in several other countries and a growing competition. The opinions expressed by Obermann were quite similar to the point of view that had been expressed by the Chief Financial Officer of France Telecom earlier on Thursday.

Apart from Deutsche Telekom, its smaller counterpart, Telecom Italia also faced lots of similar challenges. The Italian Company is also expecting its earnings to stagnate this year. Meanwhile, the Spanish telecommunication Company, Telefonica announced its forecasts on Friday and has predicted a hike in 2% for revenues this year.

A majority of European Companies have tried to consolidate for the business suffered at home with foreign acquisitions. However, they have not been able to gain inroads. As for Deutsche Telekom, it has only made one noticeable acquisition of Voicestream, an American carrier.