Lagardère sells its Deutsche Telekom shares
Corporate & other activities, Finance
Paris, 18 March 2015
The Lagardère group announces the forward sale of the 2,836,835 Deutsche Telekom shares that it had held since the transfer of Club Internet to T-Online International in early 2000. T-Online International was folded into Deutsche Telekom in 2006.
The sale will be effective in June 2016. In the meantime, the Lagardère group will continue to own the shares.
A pre-tax capital gain of about €21m will be booked in the first half 2016 accounts.
The sale price is €45m and the proceeds will be received in the coming days.
Lagardère is a diversified media group (Books and e-Publishing; Travel Retail and Distribution; Press, Audiovisual, Digital and Advertising Sales brokerage; and Sports and Entertainment; and is among the world leaders in its sector.
Lagardère shares are listed on Euronext Paris.
To receive institutional press releases from the Lagardère group, please complete the following fields:Register