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General

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

Monday 16 September 2013 | 08:57 CET | News
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 20.5 percent stake in Telefonica Germany. The sale still requires shareholder and regulatory approval.

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Categories: General
Companies: E-Plus / KPN / Telefonica / Telefonica Germany
Countries: Germany / Netherlands
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