InvestmentsJul 23 2013

Morning papers: US banks worth double Brics resource groups

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Fears that the company had come under attack were sparked over the weekend after they were unable to access the site for three days. The site remains offline while the company overhauls its security.

KPN agrees sale of German business

KPN, the Dutch telecoms group, has agreed the sale of its German business to Telefónica of Spain for €5bn in cash plus a stake in the enlarged group, reports the Financial Times.

The deal is split into two phases. In the first phase, Telefónica Deutschland will acquire 100 per cent of E-Plus for €3.7bn in cash and a stake of 24.9 per cent in the combined entity.