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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Telefonica SA | BIT:TEF | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
By Leos Rousek
PRAGUE--Telefonica Czech Republic AS (BAATELEC.PR) Wednesday reported a higher-than-expected net profit in the three months to end-December, driven by a one-off gain in income from a network-sharing agreement.
MAIN FACTS:
--Net profit in the fourth quarter was 1.95 billion koruna ($98 million), up from CZK1.76 billion a year earlier. The result was above market expectations for CZK1.42 billion in consolidated profit.
--Operating income before depreciation and amortization, or Oibda, including license fees from its network sharing contracts, was CZK5.27 billion in the fourth quarter, up 3.5% from CZK5.09 billion.
--The company said it would propose a 2013 shareholder remuneration proposal, ranging between CZK18 and CZK30 per share, depending on legal analysis of the country's new corporate code.
--The company has cut its charter capital and taken other measures to maintain steady dividend payments despite falling profits. Its dividend for 2012 totaled CZK30 per share.
--Last month investment firm PPF Group NV, controlled by the Czech Republic's richest financier, Petr Kellner, completed the acquisition of a 65.9% stake in Telefonica Czech Republic, valued at about 2.47 billion euros ($3.33 billion), from Spain's Telefonica SA (TEF).
--Remaining minority shareholders of Telefonica Czech Republic are waiting for a buy offer for their shares from PPF Group, as required by local law. PPF Group is expected to make its buy out offer public in coming days.
Write to Leos Rousek at leos.rousek@wsj.com
Go to http://blogs.wsj.com/emergingeurope for the new WSJ and Dow Jones blog on Central and Eastern Europe, covering business, politics, society and more, written by our correspondents across the region.
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