KPN to book $4.9B tax loss on sale of E-Plus

|By:, SA News Editor

KPN (KKPNY.PK) will be able to cut its taxable income in Holland by €3.7B ($4.9B) over the coming years, beginning in 2014, due to the losses it's suffering on the the €8.55B ($11.4B) sale of German unit E-Plus to Telefonica Deutschland.

The Dutch telecom carrier, which is the subject of a €7.2B takeover bid from Mexico's America Movil (AMX, AMOV), bought E-Plus for almost €19B.