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KPN sells German unit to Telefonica Germany
July 23, 2013 / 5:46 AM / 4 years ago

KPN sells German unit to Telefonica Germany

BRUSSELS, July 23 (Reuters) - Dutch telecoms group KPN will sell its German unit E-Plus to competitor Telefonica Germany for 5 billion euros ($6.60 billion) in cash and a 17.6 percent stake in the merged company.

KPN said the transaction was still subject to regulatory and shareholder approval and would generate synergies of 5.0 to 5.5 billion euros.

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