Dresdner Kleinwort Wasserstein (DrKW) has braved the wrath of Deutsche Telekom by selling €185m ($170m) of the company's shares on behalf of Sonera, the former telecoms incumbent in Finland.

The deal was risky because it was the third time this year that the bank has sold Deutsche Telekom's shares for Sonera, and the German telecoms operator is unusually sensitivity about its overhang, the stock held by companies that plan to sell it.