February 26, 2014 / 6:50 AM / 4 years ago

Telefonica Deutschland Q4 results boosted by asset sales

FRANKFURT, Feb 26 (Reuters) - Telefonica Deutschland reported a return to quarterly operating profit growth on Wednesday thanks to capital gains from asset sales.

Fourth-quarter operating income before depreciation and amortisation (OIBDA) rose 8.8 percent to 373 million euros ($512 million), said the company, which is controlled by Telefonica .

Excluding capital gains of 76.2 million euros, operating profit was down 13.4 percent year-on-year as Telefonica Deutschland invested in promotions to add and keep mobile subscribers in the highly competitive German mobile market. ($1 = 0.7282 euros) (Reporting by Maria Sheahan)

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