Debt of Germany's largest companies at an all-time high

The net financial debt of Germany's 150 largest companies has reached an all-time high, Report informs, citing Handelsblatt newspaper.

According to the publication, the debt of German chancellors increased by 20% in just one year and reached 533 billion euros. In addition, 25 companies have more debt than their equity.

This is fraught with risks as new loans become more expensive amid changes in interest rates by central banks. Many German firms are now planning to sell their shares to reduce debt.

Deutsche Telekom, a telecommunications giant included in the DAX index, has the largest net debt among German companies - 145.8 billion euros.