3U Holding AG — M&A Activity 2006

Nov 24, 2006

News Details

Ad-hoc | 24 November 2006 15:54

3U TELECOM AG: Restructuring of 3U TELECOM AG as a holding through spin-off of the operating business and re-positioning

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Marburg, November 24, 2006 – The Board of Management and Supervisory Board of 3U TELECOM AG adopted a resolution to spin off its telecommunications services and to transfer these to a new wholly-owned subsidiary retroactively as of 1 October 2006. For regulatory reasons the telecommunications services of the 3U Group have organizationally been conducted predominantly in subsidiaries in Germany and abroad to date, yet also in part within 3U TELECOM AG. The planned legal independence of the telecommunications services of 3U TELECOM AG in a wholly-owned subsidiary enables a consistent and more efficient group control. At the same time, against the background of the planned conclusion of a control/profit and loss transfer agreement with the new subsidiary, fiscal issues within the group will be optimized. This restructuring will allow for greater transparency and clear structuring of the control of the group with its operating units. In the future the areas of fixed-line telephony and broadband/IP will be managed in the same level below 3U TELECOM AG. After the successful spin-off 3U TELECOM AG will assume the function of a management and equity holding company in the 3U Group. It is further planned that 3U TELECOM AG shall tap new growth and earnings potential by establishing an equity holding business. So as to implement the planned measures swiftly the Board of Management and Supervisory Board will convene an extraordinary shareholder’s meeting for mid-January 2007. Contact: 3U TELECOM AG Kirsten Götsche Tel.: +49 (0) 6421 999-1200 Fax: +49 (0) 6421 999-1998 goetsche@3u.net (c)DGAP 24.11.2006 ————————————————————————— Language: English Issuer: 3U TELECOM AG Neue Kasseler Str. 62 F 35039 Marburg Deutschland Phone: +49 (0)6421/999-0 Fax: +49 (0)6421/999-1111 E-mail: boerse@uuu.de WWW: boerse@uuu.de ISIN: DE0005167902 WKN: 516790 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service —————————————————————————