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General

KPN sale of E-Plus long expected, but raises questions on strategy

Tuesday 23 July 2013 | 12:17 CET | Author: Tim Poulus | Market Commentary
KPN has agreed to sell its German mobile operator E-Plus to Telefonica. The Dutch operator will receive EUR 5 billion cash as well as a 17.6 percent stake in Telefonica Deutschland. A merger of E-Plus and Telefonica's O2, the third and fourth largest operators on the German market, has been rumoured for many years. As recently as last year the companies discussed a deal, but could not reach an agreement. They have now struck an agreement based on expected synergies (opex and capex) of EUR 5.0-5.5 billion.

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Categories: General
Companies: America Movil / E-Plus / KPN / Reggefiber / Telefonica / Telefonica Deutschland
Countries: Germany
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