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TEF Telefonica SA

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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
  0.00 0.00% 0.00 -

Telefonica Czech Net Profit Falls

05/11/2013 9:42am

Dow Jones News


Telefonica (BIT:TEF)
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PRAGUE--Telefonica Czech Republic AS (BAATELEC.PR), a unit of Spain's Telefonica SA (TEF), Tuesday reported a 23.5% drop in third-quarter net profit, coming below market expectations, on lower revenues as flat calling plans for mobile services weigh on the company's revenue.

MAIN FACTS:

--Net profit in the third quarter through end-September came in at 1.35 billion koruna ($70.5 million), down from CZK1.76 billion a year earlier. The result was worse than market expectations for CZK1.39 billion in consolidated profit.

--The company reported a 7.2% drop in revenue, to CZK11.67 billion from CZK12.59 billion a year earlier. Third-quarter revenue came in below market expectations for CZK11.76 billion.

--Operating income before depreciation and amortization, or Oibda, in the three months through to the end of September came in at CZK4.89 billion, down 7.2% from CZK4.54 billion. Analysts had expected Oibda at CZK4.92 billion.

--Telefonica's parent has agreed to sell its 65.9% stake in its Czech unit, valued at about 2.47 billion euros ($3.33 billion), to PPF Group NV, a Czech-based private equity firm of local billionaire Petr Kellner. Telefonica will retain a minority stake of 4.9% in the Czech company after completing the transaction and will allow PPF Group to use its O2 brand for up to four years.

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.

Order free Annual Report for Telefónica Czech Republic as

Visit http://djnweurope.ar.wilink.com/?ticker=CZ0009093209 or call +44 (0)208 391 6028

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