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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.

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