je.st

Home › eplus

Tag: eplus

KPN shareholders approve E-Plus sale to Telefonica

2013-10-02 16:22:00| Telecompaper Headlines

(Telecompaper) The shareholders of KPN have approved the sale of the Dutch operator's German mobile operator E-Plus to Telefonica. KPN is selling the German unit for EUR 8.55 billion, including EUR 5 billion cash and a 20.5 percent stake in the new company created from the merger of E-Plus with Telefonica Deutschland (O2 Germany). The merger of the number three and four players on the German mobile market will allow the companies to approach the market share of leaders Telekom Deutschland and Vodafone. According to research by Telecompaper, E-Plus and O2 had 38.5 percent of customers at the end of June 2013, compared to 33 percent for Telekom and 31.5 percent for Vodafone. In terms of service revenues, the combined group would still be in third place, just behind Telekom and Vodafone. Completion of the sale still depends on regulatory clearance. KPN CEO Eelco Blok said at the EGM that this is expected by mid-2014. KPN secured the approval of a majority of shareholders, including notably its largest shareholder America Movil, after agreeing to increase the value of the deal with Telefonica, from an initial price of EUR 8.1 billion.

Tags: sale approve shareholders telefonica

KPN shareholders approve sale of E-Plus to Telefonica Deutschland

2013-10-02 02:00:00| Total Telecom industry news

Takeover deal still requires approval of European competition authorities.

Tags: sale deutschland approve shareholders

KPN to book EUR 3.7 bln loss on E-Plus sale

2013-09-16 08:57:00| Telecompaper Headlines

(Telecompaper) KPN plans to take a book loss of EUR 3.7 billion on the sale of its German subsidiary E-Plus. The company said it reached agreement with the Dutch tax authorities on the amount of the loss. It will be able to offset the loss against future taxable profits, starting in 2014. KPN has agreed to sell E-Plus to Telefonica for EUR 5 billion plus a 17.6 percent stake in Telefonica Germany. The sale still requires shareholder approval.

Tags: book sale eur loss