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MarketScreener Homepage  >  Equities  >  Xetra  >  1&1 Drillisch    DRI   DE0005545503

1&1 DRILLISCH

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1&1 Drillisch : has decided to take part in 5G spectrum auction

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01/24/2019 | 09:30am EDT

DGAP-Ad-hoc: 1&1 Drillisch Aktiengesellschaft / Key word(s): Strategic Company Decision/Miscellaneous
1&1 Drillisch AG has decided to take part in 5G spectrum auction

24-Jan-2019 / 15:28 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Public disclosure of inside information pursuant to Art. 17 of Regulation (EU) No 596/2014

1&1 Drillisch AG has decided to take part in 5G spectrum auction

Maintal, January 24, 2019. The Management Board of 1&1 Drillisch AG has decided today with the consent of the Supervisory Board to apply for admission to the auction on the allocation of mobile frequencies in the 2 GHz and 3.6 GHz frequency bands in accordance with the decision BK1-17/001 with the Bundesnetzagentur, and, in the event of a successful acquisition of spectrum at the auction, to establish and operate a 5G mobile network. The applicant will be the wholly-owned subsidiary Drillisch Netz AG.

The company is confident that this step will establish the basis for a successful and lasting positioning of the 1&1 Drillisch Group as the fourth mobile network operator in Germany, and to make a substantive contribution to enabling Germany to become Europe's leading 5G market.

Furthermore, 1&1 Drillisch has today agreed with a European banking consortium - in addition to group-internal credit lines with United Internet AG- on credit lines of its own in the amount of EUR 2.8 billion. In addition to its available liquidity and the sustainable cash flows from its operative business, these credit lines are available as of now to 1&1 Drillisch.

In the event of a successful acquisition of spectrum at the auction, the Management Board and the Supervisory Board of 1&1 Drillisch AG will review whether the company's dividend policy ought to be adjusted so as to provide the company with additional investment resources for setting-up a high performance mobile network and to reduce the distribution rate accordingly. The current dividend policy of 1&1 Drillisch stipulates that approx. 80% of the Group's net operating results be distributed as dividend provided that the funds are not needed for the further development of the company.

1&1 Drillisch AG
The Management Board




Contact:
Oliver Keil
Head of Investor Relations
Mail: ir@1und1-drillisch.de

24-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: 1&1 Drillisch Aktiengesellschaft
Wilhelm-Röntgen-Straße 1-5
63477 Maintal
Germany
Phone: +49 (0) 6181 - 412 218
Fax: +49 (0) 6181 - 412 183
E-mail: ir@1und1-drillisch.de
Internet: www.1und1-drillisch.de
ISIN: DE0005545503
WKN: 554550
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

 
End of Announcement DGAP News Service

769267  24-Jan-2019 CET/CEST

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© EQS 2019
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