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Telekom Austria says harmonising its brands will burden net result
September 20, 2017 / 10:48 AM / 2 months ago

Telekom Austria says harmonising its brands will burden net result

VIENNA, Sept 20 (Reuters) - Telekom Austria Ag said on Wednesday it will gradually roll out its local brand “A1” throughout the group’s operations in different countries and expects the amortisation of local brand values to weigh on its net results until 2019. The Austrian unit of Mexican tycoon Carlos Slim’s America Movil , which in addition to its home market operates in seven eastern European countries, said these brands were worth around 350 million euros ($420 million) in total at the end of last year. More than half of the amount, which is not cash-relevant, will be written off by the end of the first quarter of 2018, Telekom Austria said. ($1 = 0.8334 euros) (Reporting by Kirsti Knolle; Editing by Shadia Nasralla)

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