KPN sells Telefónica Deutschland residual interest

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KPN has sold its remaining interest in Telefónica Deutschland. The telecom company announced this on Thursday, without providing any financial details.

KPN has gradually scaled down its interest in Telefónica Deutschland in recent years. The Dutch telecom company once owned 20.5 percent of its German counterpart. KPN acquired the interest in the sale of its subsidiary E-Plus to Telefónica Deutschland.

The last part of more than 88 million shares accounted for an interest of just under 3 percent. A Telefónica Deutschland share was worth about 2.60 euros on Thursday afternoon. The proceeds are used to “increase operational and financial flexibility”.

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