DGAP-Adhoc: Telefónica Deutschland Holding AG: Telefónica Deutschland Holding AG signs agreement on the acquisition of E-Plus

Telefónica Deutschland Holding AG / Key word(s): Mergers & Acquisitions

23.07.2013 07:52

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Ad-hoc Telefónica Deutschland Holding AG

Telefónica Deutschland Holding AG signs agreement on the acquisition of
E-Plus

Munich, July 23, 2013 - Telefónica Deutschland Holding AG signed an
agreement with Royal KPN N.V. on the acquisition of KPN's German mobile
telecommunications business E-Plus.

With this transaction Telefónica Deutschland Holding AG will become a
leading telecommunications company in Germany with a total of 43m customers
and combined revenues of EUR 8.6bn (as of end 2012). Telefónica Deutschland
expects significant synergy effects in particular with respect to
distribution, customer service and network, with incremental value from
additional revenue and other synergies. The total value of synergies is
estimated to be EUR 5.0 - 5.5bn net of integration costs.

KPN shall receive a cash consideration of EUR 3.7bn and newly issue shares.
The cash consideration payable to KPN is to be financed via a share capital
increase of Telefónica Deutschland. Telefónica S.A. will subscribe the
issued shares proportionately to its current shareholding in Telefónica
Deutschland. The new shares to be issued to KPN as further contribution
will arise from a capital increase in kind providing KPN with a stake of
24.9 % in Telefónica Deutschland after both capital increases.
Subsequently, Telefónica S.A. shall acquire shares amounting to 7.3 % in
Telefónica Deutschland from KPN. This will finally result in a shareholding
of Telefónica S.A. in Telefónica Deutschland of 65.0 % and KPN of 17.6 %.

The execution of the transaction requires the approval of the general
meeting of KPN and Telefónica Deutschland. Furthermore the transaction is
subject to authority approvals and other customary closing conditions. The
transaction is expected to be closed in mid 2014.

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Language: English
Company: Telefónica Deutschland Holding AG
Georg-Brauchle-Ring 23-25
80992 München
Germany
Phone: +49 (0)89 24 42 0
Fax:
E-mail:
Internet: www.telefonica.de
ISIN: DE000A1J5RX9
WKN: A1J5RX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

TecDAX

End of Announcement DGAP News-Service

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