Marburg, December 21, 2005 – Retroactive as of October 31st 2005, 3U TELECOM AG has sold its 100%-subsidiary 3U TELECOM B.V. to Elephant Talk Communications Holding AG located in Basel. With respect to the purchase price for the so far non-profitable subsidiary the two parties agreed to maintain silence.
Due to the deconsolidation of the subsidiary, 3U TELECOM AG realises extraordinary earnings of about 2.8m EUR. As a consequence of this one-time effect, instead of balanced earnings the management of 3U TELECOM AG now expects net income for the group to be in a seven-figure range in 2005.
3U TELECOM AG
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