DGAP-Adhoc: 3U HOLDING AG terminates sales process for shareholdings

 | Quelle: EQS Group AG EQS Group AG 

3U HOLDING AG / Miscellaneous

30.09.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Marburg, 30.09.2008 – 3U HOLDING AG is terminating the ongoing sales
processes for the group subsidiaries LambdaNet Communications Deutschland
AG and 3U TELECOM GmbH Austria.

As a consequence of the heightened crisis in the banking and credit
sectors, the possibilities for purchase price financing on the part of
potential buyers have again deteriorated, with the effect that from the
stance of the management purchase prices commensurate with the actual value
of the shareholdings cannot be attained at present. For this reason the
'held-for-sale' status applicable to LambdaNet Communications Deutschland
AG and 3U TELECOM GmbH Austria in line with the accounting provisions of
the International Financial Reporting Standards (IFRS) is to be lifted. In
the past quarters only the results for the period and not the individual
items on the income statement, and in particular not the revenues of the
'held-for-sale' companies, were included in the consolidated statements. In
accordance with these provisions the depreciation at the 'held-for-sale'
companies was neutralized at group level. With the lifting of the
'held-for-sale' status the companies affected will be consolidated in full
again and the suspended depreciation will be belatedly included in the
quarterly statements of 3U HOLDING AG as of September 30, 2008. The total
of such belated depreciation at LambdaNet amounts to € 7.24 million.

In addition, the board of management is sticking by the increase announced
in August for the results prognosis in the fixed-line telephony segment as
a consequence of the continued positive business development. For the year
as a whole it is expected that this segment will make a contribution of
some € 5 million to the consolidated results.

At group level it is expected for 2008 as a whole, taking into account the
belated depreciation for the companies managed as 'held-for-sale' companies
to date, that the consolidated result will be around minus € 5 million. In
this respect a negative contribution to results amounting to € 2.9 million
is accounted for by the belated depreciation from 2007. The consolidated
revenues for 2008 as a whole are expected to be about € 102 million.

Contact
3U HOLDING AG
Neue Kasseler Str. 62F
35039 Marburg
Tel.: 06421 999-1200
Fax: 06421 999-1998
E-mail: boerse@3u.net
DGAP 30.09.2008 
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Language:     English
Issuer:       3U HOLDING AG
              Neue Kasseler Str. 62 F
              35039 Marburg
              Deutschland
Phone:        +49 (0)6421/999-0
Fax:          +49 (0)6421/999-1111
E-mail:       boerse@3u.net
Internet:     www.3u.net
ISIN:         DE0005167902
WKN:          516790
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News                                     DGAP News-Service
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