Deutsche Telekom's chief executive said its U.S. mobile phone division is key to its overall business, according to Reuters.

The statement from Rene Obermann dismisses speculation that pops up every once in awhile that the Bellevue-based unit is for sale.

"The U.S. business is a core business of the mobile communications business and therefore of Deutsche Telekom," Obermann said today at an industry conference. "We have defined the U.S. as a core business for Deutsche Telekom in the future as well."

Obermann added that he could not see any merit in selling the fourth-largest U.S. carrier.

Reuters reported that there was speculation that AT&T and Telefonica were considering a bid for T-Mobile USA, and that the Blackstone Group, a private equity group that is Deutsche Telekom's second-largest shareholder, wanted the company to sell its U.S. business. The rumors had boosted Deutsche Telekom's shares last month.