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Telefonica Deutschland Q2 core profit drops 14.5 pct
July 30, 2014 / 5:45 AM / 3 years ago

Telefonica Deutschland Q2 core profit drops 14.5 pct

FRANKFURT, July 30 (Reuters) - Telefonica Deutschland on Wednesday reported a 14.5 percent drop in core earnings due to lower revenues from its wireless services and heavy investments to gain market share.

The company, which is controlled by Spain’s Telefonica , reported a decline in second-quarter operating income before depreciation and amortisation (OIBDA) to 265 million euros ($355.2 million), which still beat consensus for 246 million euros in a Reuters poll:

Telefonica Deutschland last month received regulatory approval to buy the German business of Dutch peer KPN, which operates under the E-Plus brand, to create Germany’s largest telecoms operator in terms of customers.

$1 = 0.7460 Euros Reporting by Harro ten Wolde; Editing by Maria Sheahan

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