Plus   Neg

Telefonica Deutschland Agrees On Spectrum Lease To 1&1 Drillisch; Backs Outlook

Telefonica Deutschland Holding AG (TELDF.OB,TFTHF.OB) Wednesday said it has agreed on spectrum lease to 1&1 Drillisch AG, affiliated to United Internet AG. With this, the company is implementing another remedy agreed with the European Commission in relation to the merger with E-Plus in 2014.

At the same time, Telefonica Deutschland said it is taking the opportunity to monetise a small part of its capacity spectrum.

The company said it has agreed upon the lease of a frequency package of 2x 10 MHz in the 2.6 GHz band to 1&1 Drillisch until its maturity at the end of 2025 as requested by the latter. In return, Telefonica Deutschland will receive an annual usage fee.

In a statement, 1&1 Drillisch said it will lease spectrum for the installation of its own 5G mobile network at Telefonica.

The plans to lease spectrum to 1&1 Drillisch are still subject to approval by the Federal Network Agency. However, the plans have already been reviewed in advance by the responsible Federal Network Agency and the European Commission.

Further, Telefonica Deutschland reiterated its full-year 2019 guidance as well as mid-term targets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
South Korea's Hyundai Motor Co. announced its decision to suspend production at its Asan plant for two days starting on Monday due to a chip shortage amid the pandemic crisis, Reuters reported. The company is experiencing trouble in supply conditions for semiconductor parts for powertrain control units. The Asan factory manufactures 300,000 vehicles, including the Sonata and Grandeur sedans, each The U.S. Department of Health and Human Services is set to expand its Health Center COVID-19 Vaccine Program to include all HRSA-funded health centers. This will increase the total number of health centers that have been invited to join the program to 1,470 nationwide from the earlier 950. McDonald's Corp. is planning to hire 25,000 workers in its restaurants across Texas in April, reports said. In a three-day event from April 13 to 15, the fast-food chain is expected to hire for crew and management positions. During these hiring days, participating McDonald's restaurants in the state will be accepting applications and interviewing job seekers.
Follow RTT