"We are clearly planning the appropriate timing of all of the independent pieces of the deal," Chief Financial Officer Rachel Empey told journalists.

"Later in the process we will come back to the market with the details of what we intend for the capital increase, but right now can't share any further details."

(Reporting by Victoria Bryan; Editing by Christoph Steitz)

Stocks treated in this article : KPN KON, Telefonica SA, Telefonica Deutschland Holding AG