commiss decis juli state aid implement germani mobilcom ag notifi document number german text authent text eea relev commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement establish european econom area articl thereof regard council regul ec march lai detail rule applic articl treati establish european commun articl thereof call member state interest parti submit comment pursuant provis cite regard comment procedur letter date octob germani inform commiss quot rescu aid quot form state guarante loan eur million grant mobilcom ag hereinaft refer mobilcom state own kreditanstalt für wiederaufbau kfw loan paid septemb letter date octob commiss ask addit inform germani duli suppli letter date octob regist receiv octob letter date novemb regist receiv dai letter date novemb regist receiv novemb germani inform commiss defici guarante loan eur million repres commiss germani met decemb letter date januari commiss inform germani decis approv guarante loan eur million rescu aid pursuant articl ec treati commun guidelin state aid rescu restructur firm difficulti letter commiss inform germani decis initi formal proceed articl ec treati respect defici guarante eur million loan commiss decis initi proceed publish offici journal european union commiss call interest parti submit comment letter date februari regist receiv februari germani submit comment commiss decis initi proceed letter date march regist receiv dai germani suppli commiss inform time announc intent extend end state guarante eur million eur million loan grant mobilcom germani point eur million loan paid compani letter date april commiss ask addit inform plan extens state guarante germani suppli letter date regist receiv germani submit inform letter date regist receiv letter date june regist receiv june mobilcom submit comment commiss decis initi proceed letter date juli commiss inform germani extend articl proceed plan extens loan guarante end commiss decis extend proceed publish offici journal european union commiss call interest parti submit comment letter date septemb regist receiv septemb germani submit comment extens proceed letter date septemb commiss ask addit inform germani repli letter date septemb regist receiv septemb inform commiss mobilcom septemb fulli repaid outstand loan state guarante grant guarante bond return feder govern land schleswig holstein kfw consortium leader letter date novemb regist receiv novemb germani state question applic commiss extens loan guarante dealt loan paid back letter date septemb regist receiv septemb letter date octob regist receiv octob mobilcom competitor commiss comment extens proceed forward germani opinion germani repli receiv letter date novemb regist receiv novemb talk held januari repres commiss feder govern land schleswig holstein compani matter addit measur requir prevent undu distort competit letter februari regist receiv februari germani inform commiss mobilcom ag principl prepar discontinu direct onlin distribut mobilcom mobil telephoni contract period month letter februari commiss request clarif number point letter march germani repli letter april regist receiv dai april regist receiv dai state make definit commit close mobilcom onlin shop letter date june regist receiv june germani provid commiss addit inform current trend mobilcom custom number ii detail descript aid measur mobilcom ag mobilcom ag found gerhard schmid mobilcom communicationstechnik gmbh regist büdelsdorf rendsburg eckernförd schleswig holstein area elig aid articl ec treati headquart büdelsdorf mobilcom number site germani kiel karlstein erfurt hallbergmoo franc télécom largest sharehold mobilcom remain share hand small sharehold mobilcom start busi resel quot gener quot mobil telephoni servic mobil vodafon float stock exchang firm list neuer markt segment frankfurt stock exchang mobilcom expand area busi enter german landlin internet market expans boom year mobil telephoni allow mobilcom grow quickli mobilcom bought compani includ network servic provid topnet mobil telephoni servic provid cellwai largest german internet search engin time dino onlin ad portfolio telecommun firm telepassport servic provid major hold comtech comput chain mobilcom list internet subsidiari freenet de ag germani largest onlin servic neuer markt frankfurt mobilcom franc télécom found joint ventur mobilcom multimedia gmbh aim bid umt licenc break umt market franc télécom exchang share joint ventur stake mobilcom ag mobilcom ag hold share mobilcom multimedia gmbh share mobilcom ag franc télécom paid purchas price eur billion extern fund need umt licenc provid intern bank consortium basi strateg partnership umt field cooper framework agreement sign parti march august mobilcom multimedia gmbh made success bid eur billion obtain umt licenc feder govern merg cellwai order gear distribut structur umt busi year work began build umt network mobil telephoni servic provid sector mobilcom aim enter umt busi develop simpl servic provid network base mobil telephoni provid landlin internet busi consist hand voic telephoni internet access busi oper internet subsidiari freenet de ag mobilcom held stake landlin busi mobilcom serv million custom crisi million internet custom mobilcom group turnov financi year eur billion increas previou year figur eur billion account mobil telephoni servic provid busi eur billion landlin internet busi eur million area turnov umt field construct end year million custom make call mobilcom mobil phone increas million custom year meant mobil telephoni mobilcom grow faster rate market third custom base consist subscrib compar market averag juli mobilcom emploi peopl includ staff fix term contract equival full time employe mobil telephoni market restructur mobilcom concentr mobil telephoni servic provid busi crisi umt landlin internet oper germani market survei attach restructur plan submit market mobil telephoni servic part market telecommun servic includ landlin connect cabl televis rent line carrier busi sector market mobil telecommun servic market mobil telephoni servic regard separ relev market distinct market telecommun servic product differ significantli market servic firm activ mobil telephoni market distinct drawn network oper pure servic provid network oper oper infrastructur need set mobil servic sell servic direct indirectli servic provid activ servic provid confin oper mobil telephoni servic base price structur telecommun post regul regtp total turnov telecommun servic germani eur billion present landlin servic mobil servic segment account largest turnov telecommun servic market enjoi total turnov combin total earn mobil telephoni firm eur billion figur regtp annual growth mobil telephoni servic averag annual averag growth rate total german market telecommun servic averag annual growth turnov mobil telephoni servic lower averag annual growth number particip sector account steadi drop averag monthli turnov particip growth mobil telephoni market slow markedli predict studi trend mobil telephoni market germani commiss base expect year number mobil telephon custom approach natur satur point german popul end market penetr popul futur main focu achiev higher custom number keep exist profit custom push averag monthli turnov competit concentr increasingli custom prepar chang oper boom year exchang termin equip mobil telephoni contract grow germani year ahead mobil vodafon quam subtot network oper debitel mobilcom talklin hutchison victor vox drillisch subtot servic provid total digit mobil telephoni market leader gener mobil telephoni mobil vodafon mobil telephoni network term number custom employe mobil telephon oper compar mobilcom deutschland own subsidiari mmo plc mobil telephoni subsidiari british telecommun plc oper mobil telephoni network offer mobil telephoni servic germani emploi staff debitel telecommun compani network infrastructur oper resel telephon minut gener mobil telephoni network function emploi staff turnov eur billion talklin resel gener mobil telephoni servic turnov eur billion talklin state emploi peopl financi difficulti restructur consider expand turnov mobil telephoni servic provid sector result steep net increas custom mobilcom oper result busi line steadili declin primarili cost acquir custom rose time margin exist busi fell ad rise bad debt signific provis made extern situat umt field develop market content product termin equip wors plan schedul septemb franc télécom announc end partnership mobilcom ag felt german partner independ umt activ longer profit complet withdraw franc télécom joint umt activ brought end payment purpos financ umt busi point mobilcom busi report debt eur billion larg current financ requir cover network invest ordinari organis expenditur interest franc télécom month mobilcom sole remain sourc financ altern financ option mobilcom directli threaten insolv background feder govern grant rescu aid form defici guarante loan eur million loan provid state own kfw paid septemb enabl firm maintain oper initi period aid cover present proceed approv commiss decis januari time mobilcom sought enforc compens claim basi cooper agreement franc télécom novemb mobilcom ag mobilcom hold gmbh mobilcom multimedia franc télécom wirefre servic belgium sa sign mc settlement agreement clear consider amount mobilcom debt central plank settlement agreement franc télécom assumpt mobilcom group umt liabil return mobilcom waiv franc télécom favour earn sale umt asset share specif franc télécom bank liabil eur billion supplier credit eur billion time waiv repay sharehold loan total eur billion claim waiv liabil assum total eur billion interest accru time transfer franc télécom undertook provid fund withdraw umt busi albeit decemb total amount eur million parti waiv reciproc claim aris busi relationship franc télécom withdraw cooper umt busi impact mobilcom umt oper made restructur busi area loss make core busi mobil telephoni servic provis franc télécom expressli refus negoti settlement provid fund reorganis mobil telephoni servic provid busi septemb order ensur addit fund need financ requisit reorganis measur sector germani land schleswig holstein grant defici guarante loan amount eur million descript restructur plan germani submit comprehens restructur plan mobilcom group examin crisi set long term profit restor plan fundament continu econom difficulti mobilcom group found core busi segment mobil telephoni servic provis umt busi segment restructur plan extern situat umt sector wors plan origin profit expect umt busi correct end trigger crisi franc télécom withdraw mobilcom group expect expans umt busi view consider financ requir develop umt busi threaten liquid mobilcom group mobil telephoni servic provid busi segment chief crisi restructur plan exclus concentr growth expens profit desir win custom futur umt busi emphasi past increas market share past custom frequent gain disproportion high acquisit cost primarili cheap price rang time small turnov gener gross yield margin small addit unsatisfactori payment behaviour custom consequ provis bad debt result significantli high charg mobil telephoni servic provid busi segment record continu loss time concentr umt busi meant adjust busi segment neglect basi strategi restor firm profit set restructur plan concentr strictli origin core busi servic provid mobil telephoni sector unprofit umt busi complet discontinu cost withdraw umt busi sell cut back umt asset shed umt full time job estim restructur plan maximum eur million plan fund need umt sector eur million promis franc télécom part mc settlement agreement plan mobilcom withdraw internet landlin sector end landlin divis integr freenet de ag stake freenet de ag subsequ sold part kei compon reorganis strategi loss make mobil telephoni servic provid busi cut full time job concentr sale custom servic activ previous scatter site büdelsdorf group headquart erfurt site reduc custom acquisit cost thing close mobilcom shop streamlin custom portfolio emphasi consolid lower profit custom turnov level custom loyalti measur optimis price structur eur million closur unprofit mobilcom shop eur million job cut servic provid sector eur million extern consult march eur million closur karlstein hallbergmoo reloc infrastructur eur million impend financi oblig leas commit busi asset longer account chang strategi eur million cash deposit eur million busi plan attach restructur plan profit loss account period mobilcom return profit servic provid sector repay loan guarante state liquid analysi conclud basi scenario put forward favour outcom medium quot realist quot outcom unfavour outcom turnov posit worst case scenario loan repaid end restructur plan earlier repay share freenet de ag successfulli sold implement restructur plan mobilcom began implement measur set restructur plan back novemb umt sector frozen accord plan prepar sale plan shed total full time job umt servic provid sector conclud march addit measur relat reorganis servic provid core busi shutdown karlstein hallbergmoo site closur unprofit shop introduct organis structur fulli implement fourth quarter quarter addit mobilcom landlin activ group mobilcom citylin gmbh mcl transfer april purchas contract mobilcom freenet de ag instal eur million eur million total purchas price eur million paid mobilcom due august accord plan repai loan guarante state umt network sold umt licenc return regtp decemb left mobilcom free servic provid offer umt servic part emerg market septemb manag board supervisori board decid sell share freenet de ag acceler bookbuild procedur share million sold domest foreign investor gross yield sale eur million eur share left mobilcom share freenet de ag proce mobilcom repaid outstand credit line state guarante loan septemb free debt guarante bond return feder govern land schleswig holstein repai loan mobilcom left proce eur million sale freenet share germani sale share freenet de ag plan mobilcom stake freenet de ag meantim transform strateg pure financi hold mobilcom retain share germani surviv oper link freenet subgroup mobilcom subgroup insignific control profit transfer agreement mobilcom freenet de ag octob extraordinari receipt flow mobilcom success sale truste prof helmut thoma share held founder head mobilcom mobilcom group return profit mobil telephoni servic provid landlin internet busi servic provid sector mobilcom achiev posit result quarter record profit time eleven quarter ebitda earn interest tax depreci amortis rose eur million financi year mobil telephoni servic provid landlin internet sector combin turnov eur billion ebit earn interest tax rose eur million compar eur million trend servic provid segment restructur phase result turnov eur million ebitda eur million ebitda turnov ebit eur million ebit turnov mobil telephoni custom million subscrib million pre paid custom million gross custom million capit gain place million freenet share account group earn rose eur million firm mobilcom solid basi detail state guarante grant loan eur million grant kfw septemb fulli secur feder govern guarante due expir march extend septemb initi extend juli juli kfw extend term loan pend decis commiss restructur plan submit latest interest rate loan consist euro interbank offer rate euribor interest period question annum guarante eur million loan grant mobilcom ag mobilcom hold gmbh consortium bank consist deutsch bank ag dresdner bank ag kfw landesbank schleswig holstein kfw lead bank assum feder govern land schleswig holstein loan grant novemb term month paid instal interest rate consist euro interbank offer rate euribor relev interest period instal annum guarante provid feder govern land schleswig holstein cover loan feder govern underwrot amount land guarante agreement novemb guarante due expir march restructur plan submit commiss expiri date period extend automat time commiss adopt decis aid basi restructur plan question submiss restructur plan march guarante extend cover entir durat loan time commiss decis basi plan germani inform commiss premium mobilcom pai feder govern guarante loan eur million eur million annum case applic fee eur due land schleswig holstein entitl guarante premium annum process fee eur germani state eur million need call restructur mobilcom wrote april kfw consortium leader waiv outstand loan amount eur million reason initi extend proceed commiss approv guarante loan eur million rescu aid pursuant articl ec treati commun guidelin decis initi formal investig procedur commiss classifi guarante feder govern land schleswig holstein loan state aid mean articl ec treati basi provision assess conclud notifi aid assess basi commun guidelin doubt compat common market clear commiss loan grant stage eur million exclus busi run declar rescu period restructur firm distort competit restructur aid authoris basi restructur plan commiss proceed articl ec treati initi decis juli commiss includ origin plan extens loan guarante scope ongo investig commiss doubt mobilcom need extens state guarante loan time rule possibl mobilcom secur suffici fund pai credit quick sale stake internet subsidiari freenet de ag iii comment germani loan repaid septemb guarante bond subsequ return guarantor germani consid question applic extend loan guarante event submit precautionari measur close aid measur guarante loan eur million germani maintain view constitut rescu aid mean commun guidelin germani state loan exclus financ measur servic provid sector aim thing optimis custom tariff structur adjust sale expenditur cut current staff cost dual purpos simpli firm ordinari busi run reduc liquid rescu phase measur liquid requir eur million higher march comprehens restructur plan submit time aid grant drawn short time event commiss accept assess germani ask loan guarante approv restructur aid basi restructur plan submit commiss subsequ take view mobilcom withdraw umt busi landlin internet segment provid restructur plan offset distort competit mobil telephoni market caus state guarante loan iv comment parti comment mobilcom comment initi extens formal investig procedur mobilcom reject doubt aid compat common market argu competit market mobil telephoni servic standstil mobilcom ceas exist mobil telephoni market claim domin network oper total market share account domin supplier mobil vodafon disappear mobilcom debitel virtual monopoli servic provid network remov pressur compani bundl favour rate offer custom role servic provid catalyst price competit network oper decis weaken oligopolist structur german mobil telephoni market strengthen mobilcom claim state guarante led distort competit limit absolut minimum guarante cover altogeth loan amount fund earmark implement restructur plan strictli limit cost restructur servic provid sector measur restructur plan essenti restor long term viabil mobilcom explain detail gave breakdown individu cost provid restructur plan mobilcom point remain competitor benefit restructur plan mobilcom divest activ belong directli core busi sector umt network oper neg effect competitor expect restructur consider capac reduct made servic provid sector substanti reduct staff closur site consider reduc mobilcom abil acquir custom talk held germani commiss januari repres mobilcom part compani clarifi written comment state maintain legal view adopt germani aid measur rescu restructur aid question compensatori measur aris comment talklin gmbh amp kg mobil telephoni servic provid talklin gmbh amp kg talklin direct competitor mobilcom point direct competitor adapt market condit year chang direct expens state aid talklin argu state guarante loan restructur aid mobilcom rescu aid restructur firm begun loan grant novemb firm view distort competit caus aid mobilcom sever aid grant compat common market suffici compens talklin gave reason sever distort competit fact guarante enabl mobilcom continu busi restrict carri full rapid restructur true mobilcom lose market share restructur market presenc appreci competitor state guarante loan enabl mobilcom make custom base profit streamlin custom base mobilcom grown strongli market disproportion high yield custom base addit loan mobilcom delai propos sale fix network freenet de ag ensu partial sale stake expect relat rise market price repai loan invest mobil telephoni busi sale block share septemb left liquid resourc eur million pai loan full talklin doubt grant guarante mobilcom consider fix asset time stake freenet de ag emphasis talklin sale freenet share million share place septemb brought firm incom eur million novemb price eur share sale stake million share provid firm liquid resourc eur million made borrow larg state guarante unnecessari calcul base stock market price net asset freenet de ag put significantli higher supervisori board mobilcom manag board freenet de ag commiss conclud state guarante loan admiss restructur aid authoris talklin view germani offer compensatori measur accord point seq commun guidelin measur germani suffici talklin opinion offset aid advers effect reduct capac mobil telephoni sector reduct custom base larg attribut fact mobilcom drop unprofit custom relationship reduct econom point view accept quid pro quo complet withdraw landlin internet busi sale stake freenet effect competit mobil telephoni sector constitut capit restructur quid pro quo distort competit worthless consider aggrav distort mobilcom invest proce sale freenet stake directli servic provid busi freez umt busi econom necess suitabl compensatori measur offset distort competit mobil telephoni sector withdraw benefit remain umt licenc holder direct competitor lastli talklin propos catalogu measur offset distort competit felt occur measur includ pro rata quot sale quot custom competitor closur onlin shop direct channel limit period withdraw umt busi servic provid enhanc servic provid limit period comment parti wish ident secret commiss receiv comment competitor likewis pure servic provid network structur competitor think quid pro quo offer suffici achiev reduct capac mobilcom core busi offset distort competit mobilcom want concentr high yield custom middl upper segment declin custom maintain market presenc concentr high yield custom cost reduc turnov increas current market condit satur lower averag turnov custom fall margin reposit mobilcom achiev servic provid strive aid direct competitor mobilcom secur competit advantag valuabl fierc contest custom stratum germani support restructur mobilcom direct expens competitor accept compensatori measur germani respons comment submit parti respons comment submit parti germani argu aid measur mid novemb liquid need maintain mobilcom current busi run loan kfw consortium mobilcom appli insolv immedi event applic insolv mobilcom manag board estim substanti proport custom rapidli lost restructur mobilcom basi insolv imposs germani state settlement negoti half septemb franc télécom made clear undertak releas mobilcom umt commit mobilcom seek insolv period challeng insolv law outset negoti franc télécom want expert report give posit forecast continu exist busi area remain mobilcom demand undertak parti ensur financ success reorganis loan eur million grant purpos kfw consortium made condit mc settlement agreement franc télécom demand loan facil open month fact loan guarante ran meant germani view demand met germani submit state guarante grant loan loan contract kfw consortium requir mobilcom provid collater dispos convinc consortium grant fund intens effort part feder govern induc bank consortium assum higher proport risk bank insist defici guarante feder govern land schleswig holstein cover loan offici cover loan risk shield bank prepar provid fund mobilcom mobilcom insolv question aid limit minimum germani argu loan contract kfw consortium mobilcom undertook net revenu sale major physic financi asset redeem loan state guarante undertook begin sale landlin network internet busi began effort sell asset umt asset dispos quickli successfulli redeem loan financ advanc state guarante ahead schedul sale landlin busi umt asset transfer millenium share meant loan gradual reduc sale septemb stake freenet de ag ultim brought state guarante oper half lifetim kfw loan realis asset repai state guarante loan quickli true sale landlin busi agre march sale umt asset agre sale mobilcom share truste dr dieter thoma permiss april onward mobilcom power instruct dr thoma truste contract gerhard schmid millenium oblig obtain high price germani contend appli sale freenet share german law govern limit compani manag board oblig interest compani sharehold prevent sale asset germani state time stake sold quickli stock market market price freenet share low eur gave market eur million entir hold freenet share dispos rapidli price collaps compani supervisori bodi agre sale novemb time franc télécom gener meet approv mc settlement agreement germani submit altern cours enabl mobilcom continu oper market insolv serv interest competitor mobilcom clientel readili move germani contend justif break mobilcom insolv consider competit infrastructur labour market argu favour grant state guarante germani initi maintain view substanti compensatori measur main sale umt busi sale landlin busi reduct mobilcom stake freenet de ag qualifi major financi hold closur hallbergmoo karlstein site direct talk held germani januari commiss rais compensatori measur closur mobilcom onlin shop limit period month germani initi agre april germani inform commiss make definit commit close onlin shop vi assess measur articl ec treati state save provid treati aid grant member state state resourc distort threaten distort competit favour undertak product good incompat common market trade member state affect commiss note question germani applic commiss authoris extend loan guarante close loan repaid septemb guarante bond subsequ return guarantor commiss longer applic commiss approv state guarante eur million loan rescu aid mean commun guidelin januari aid consid afresh state guarante eur million loan aid commiss consid shown state guarante eur million loan grant novemb constitut aid mean articl ec treati guarante grant feder ministri financ ministri econom affair technolog commun land schleswig holstein state author aid consid grant state state guarante gener fall scope articl market premium paid trade member state affect commiss take view premium paid state guarante market premium germani state premium mobilcom pai feder govern guarante annum applic fee eur case land schleswig holstein entitl guarante premium annum process fee eur germani suppli data show premium risk line market condit germani refer guarante loan quot aid quot background mobilcom difficult econom situat fact brink insolv commiss conclud premium reflect risk feder govern land run give guarante privat investor grant guarante term guarante confer select advantag mobilcom receiv normal market condit access borrow improv mobilcom financi distress guarante enabl obtain loan term correspond real financi posit risk accept lender lend firm compar posit state guarante normal market condit bank refus grant loan firm reimburs guarante state guarante affect competit trade member state mobilcom gener gsm mobil telephoni servic germani loan guarante grant germani improv mobilcom competit posit advers effect abil gener mobil telephoni provid compet guarante help reinforc mobilcom posit commun level made provid member state set expand oper germani commun telecommun market intens competit provid member state mobilcom current potenti competitor provis gener mobil telephoni servic firm head offic member state vodafon talklin debitel state guarante constitut state aid caught articl ec treati commiss take view loan guarante grant aid element guarante meant loan secur line market requir interest rate charg mobilcom eur million loan annum euribor compar interest rate charg case healthi firm commiss refer rate compat common market articl ec treati lai except principl state aid incompat common market consid aid issu compat common market articl aid aid social charact grant individu consum aid make good damag caus natur disast except occurr aid grant economi area feder republ germani turn articl ec treati exempt provid subparagraph region aspect applic aid mobilcom intend facilit develop specif econom area exempt provid articl appli refer aid promot execut import project common european interest aid promot cultur heritag conserv remain except laid articl ec treati commun guidelin base commiss take view commun guidelin aid research develop small medium size enterpris employ train applic condit set commun guidelin state aid rescu restructur firm difficulti met aid contribut develop econom activ advers affect trade point guidelin consid compat common market assess aid measur restructur aid consider commiss conclud contrari stanc germani beneficiari compani aid measur constitut restructur aid rescu aid rescu aid mean commun guidelin natur temporari serv ail firm afloat time need work restructur liquid plan restrict amount need firm busi restructur plan drawn cover wage salari cost routin suppli restructur hand base feasibl coher reach plan restor firm long term viabil involv reorganis rationalis firm activ typic involv withdraw loss make activ restructur exist activ made competit financi restructur accompani oper restructur commiss take view guarante qualifi rescu aid loan cover intend exclus financ current cost includ ordinari improv view keep firm afloat limit period restructur plan drawn germani state purpos state guarante loan eur million eur million enabl mobilcom seri reorganis measur loss make servic provid divis packag aim long term resolut continu loss area busi state guarante loan financ rapid shed full time job servic provid sector intend reduc high staff intens segment factor identifi restructur plan major sourc loss categori cost aros termin cancel unprofit contract migrat tariff servic provid custom acquir firm umt network reorganis custom base tariff intend establish profit long term relat custom put stop fall gross trade profit margin close karlstein site brought mobilcom group takeov telecommun gmbh hallbergmoo site brought takeov cellwai kommunikationsdienst concentr distribut custom care structur büdelsdorf headquart erfurt site mobilcom made backlog adjust neglect focus build umt busi commiss satisfi packag measur financ state guarante loan effect primarili structur aim ensur long term profit servic provid divis compani keep firm oper restructur plan drawn structur measur financ rescu aid commiss find guarante constitut restructur aid mean commun guidelin commiss assum measur relat servic provid busi base solid plan restor firm long term profit commiss expressli reject germani object time state guarante loan grant novemb restructur plan present manag board close consult supervisori board decid main point reorganis strategi back septemb mobilcom doubt particip franc télécom umt project realis abandon manag board submit comprehens reorganis programm mobil servic provid divis main featur time shed full time job core busi concentr distribut custom care activ hitherto spread site perman headquart büdelsdorf erfurt site reduct cost acquir custom close unprofit mobilcom shop reorganis plan fundament ident subsequ restructur plan submit commiss march examin auditor deloitt amp touch report deliv octob deloitt amp touch conclus lack time term refer contract final opinion reach question mobilcom group restructur plan dealt fulli point weak essenti point weak account report measur set restructur plan expect remedi point weak identifi put mobilcom group posit achiev posit result year commiss consid adequ shown novemb latest coher plan reorganis firm form basi kfw consortium decis grant loan measur reorganis servic provid busi undertaken novemb conclus invalid fact time franc télécom final assent mc settlement agreement settlement agreement effect mobilcom appli insolv assess prospect rest outset premis reach discharg debt assum effect agreement conclud mobilcom logic began implement measur delai wait final approv franc télécom gener meet commiss consid decis indic aid measur constitut restructur aid fact state guarante loan grant lifetim month guarante run initi march deadlin extend automat restructur plan submit commiss expir point commun guidelin state rescu aid form loan guarante link loan reimburs period twelv month disburs instal firm case sum aid measur constitut restructur aid commiss authoris condit laid commun guidelin met compat restructur guidelin elig firm purpos commun guidelin firm regard quot difficulti quot unabl resourc fund obtain owner sharehold creditor stem loss intervent public author condemn busi short medium term point guidelin usual sign firm difficulti includ increas loss declin cash flow fall nil net asset situat firm recov resourc fund obtain owner sharehold creditor point guidelin withdraw franc télécom financ umt busi meant liquid mobilcom corpor fund quarter mobilcom suffer loss interest tax ebit eur billion capit resourc amount eur million eur million insolv loom septemb avert state guarante liquid aid loan eur million provid kfw success conclus mc settlement agreement franc télécom umt liabil total eur billion interest group loss fourth quarter amount eur million excess loss crisi quarter loss eur million quarter loss eur million fourth quarter loss eur million commiss deduc liquid figur neg cash flow develop mobilcom group halt novemb liquid reserv exhaust septemb rescu aid allow short term current liquid requir cover threat insolv avert germani show reorganis measur provid restructur plan current loss eur million higher march germani view financ loss bank loan commiss likewis conclud mobilcom cover financ requir novemb capit resourc explain liquid reserv longer time commiss oblig conclud basi inform partial sale freenet stake envisag restructur plan order redeem state guarante loan eventu happen septemb short term germani convincingli shown prior conclus mc settlement agreement novemb sell freenet hold exist credit liabil creditor bank context umt project sale agreement creditor bank freenet hold pledg time view larg debt umt sector creditor bank agre sale proce exclus repay credit liabil result umt project bank commiss evid suggest acut crisi fourth quarter investor shown interest acquir share mobilcom ag mean procur fund mobilcom germani demonstr suffici consortium bank grant eur million loan state guarante default risk consid high usual bank collater provid suffici measur germani submit thing opinion drawn consortium lead bank kfw june assess collater addition provid eur million loan eur million loan contract mobilcom undertook thing pledg share subsidiari compani mobilcom ag mobilcom hold gmbh includ freenet de ag hold transfer claim millenium gmbh manag gerhard schmid amount eur million usual bank collater compani transfer freenet hold pledg decemb assess kfw mark volatil share claim gerhard schmid millenium gmbh made bank consortium met sale mobilcom ag hold truste prof dieter thoma decemb valuat collater base stock exchang price mobilcom stock price depend mobilcom creditworthi kfw germani attribut collater base customari bank principl collater collater subsequ transfer purchas monei claim freenet de ag aris sale landlin divis amount eur million time loan grant commiss conclud grant feder land guarante order bank justifi grant eur million loan commiss find time loan grant firm unabl restructur resourc fund obtain owner sharehold creditor state contribut view suffici evid novemb mobilcom firm difficulti mean commun guidelin restor long term viabil pursuant point seq commun guidelin grant restructur aid condit implement restructur plan endors commiss case individu aid measur check restor long term viabil firm commiss doubt mobilcom group stabilis success conclus mc settlement agreement franc télécom detail restructur plan submit commiss march contain comprehens analysi structur deficit respons problem comprehens list measur overcom weak identifi basi forecast profit loss account end scenario risk analysi commiss establish propos restructur measur reason cogent principl mobilcom restor long term viabil deloitt amp touch carri assess restructur plan behalf mobilcom conclus plan line audit firm assess octob report monthli report restructur process ant assess born actual develop mobilcom back profit servic provid sector quarter time eleven quarter pai debt full sale freenet share septemb aid limit minimum point commun guidelin amount intens aid limit strict minimum need enabl restructur undertaken aid beneficiari make signific contribut restructur plan resourc includ sale asset essenti firm surviv extern financ market condit commiss consid germani demonstr suffici restructur aid form state guarante loan eur million limit minimum need restructur light exist financi resourc compani sharehold busi group belong restructur phase mobilcom carri addit acquisit invest strictli restor long term viabil commiss think attach condit approv aid order avoid undu distort competit paragraph period cover state guarante loan concern commiss note inform provid germani franc télécom press term month state guarante restructur loan precondit take liabil stem umt busi mobilcom need shorter term practic endang conclus mc settlement agreement commiss requir aid limit minimum met respect beneficiari contribut restructur commiss note state guarante cover guarante loan risk relat remain born firm lend bank addit mobilcom help financ restructur sale asset set restructur plan instal made eur million sale landlin divis freenet march pai back loan remaind loan repaid full year proce sale share freenet background bear mind aid form loan guarante repay grant commiss conclud mobilcom made suffici contribut restructur resourc mean point guidelin aid reduc minimum avoid undu distort competit point seq commun guidelin measur mitig advers effect aid competit condit take form limit reduct presenc compani enjoi market market limit restrict proport distort effect aid rel import firm market market commiss find mobilcom aid restructur plan stabilis mobil telephoni servic provid busi area aid impact primarili mobil telephoni market commiss view market landlin servic voic telephoni internet servic mobilcom continu oper futur hold freenet de ag appreci affect commiss examin aid neg impact mobilcom competitor mobil telephoni market led distort make compensatori measur take market mobil telephoni servic mobilcom smaller supplier total market share prior restructur group estim share restructur aid grant mobilcom form loan guarante grant guarante loan repaid full septemb month loan grant novemb hand year prior crisi mobilcom pursu aggress expans strategi gear exclus growth mobil telephoni servic provid sector expens profit mobilcom focu pure expand market share view context plan expans umt network network oper earn higher margin custom pure servic provid focus activ umt field attempt establish umt oper mobilcom take major risk ultim busi strategi fail demonstr difficulti mobilcom experienc half mobilcom withdrew network oper umt sector gear market strategi keep exist profit custom push averag monthli turnov aid mobilcom bear neg consequ high risk strategi continu benefit posit effect possibl draw wider clientel streamlin custom base gave mobilcom clear advantag competitor mobilcom conced state aid declar insolv lost larg proport exist custom aid enabl mobilcom stai busi carri physic reorganis reorient market strategi drop custom lower profit margin clientel focu profit custom end custom number drop restructur gross yield custom rose commiss take account fact grant aid gave mobilcom time prepar plan sale freenet hold carefulli order achiev maximum proce sale redeem loan gener liquid point fact mobilcom manag achiev proce eur million sale share redempt outstand credit line state guarante loan remain proce gave mobilcom eur million addit liquid servic provid oper chang busi strategi mobilcom benefit guarante loan directli indirectli guarante allow obtain bridg loan order enabl sell share freenet de ag date earlier sale result lower proce aid neg effect competitor expect natur satur point reach year gear busi strategi profit custom segment support state aid fact mobilcom share german mobil telephoni market state guarante loan repaid rapidli commiss conclud aid led undu distort competit market commiss view measur cite germani reduc firm market presenc withdraw umt busi suffici mitig distort mobilcom withdraw umt busi fulli offset advers effect aid competitor remain umt licenc holder main beneficiari withdraw competitor mobil telephoni market withdraw landlin internet busi transfer landlin activ freenet chang freenet stake strateg financi hold claim germani regard adequ compensatori measur undu distort competit caus aid primarili benefit landlin oper internet servic provid mobil telephoni oper germani cite compensatori measur shed full time job includ servic provid sector closur site mobilcom lost custom market share end firm million custom compar million begin crisi drop reflect declin turnov servic provid sector eur billion compar eur billion commiss point shed job close site event effici boost measur restructur plan compani succeed end neg trend turnov record restructur phase turnov servic provid sector stood eur million quarter compar eur million quarter number mobilcom custom stabilis million fourth quarter number custom exceed custom departur period true compani figur subscrib show mark readi switch oper led slight declin custom number quarter mobilcom gain subscrib quarter period data mobilcom market share custom busi quarter view undu distort competit paragraph commiss conclud advers effect aid mobilcom competitor suffici mitig measur refer germani determin compensatori measur account custom loss occur turnov loss restructur phase withdraw umt busi commiss made clear germani aid measur approv restructur aid deem compat common market compensatori measur view mobilcom mention custom turnov loss restructur phase withdraw umt busi network oper compensatori measur detriment activ negoti januari commiss repres repres feder govern land schleswig holstein compani compensatori measur discuss includ commiss instig temporari cessat direct onlin sale mobilcom mobil telephoni contract discuss maintain legal stanc germani express willing principl commit suspend onlin direct sale mobilcom mobil telephoni contract month view enabl aid approv commun februari germani inform commiss gener speak mobilcom prepar close onlin shop direct sale mobil telephoni contract maximum month commun contain detail measur organis addit clarif provid mail germani februari respons request commiss april germani inform commiss make definit commit close onlin shop light legal stanc end mobilcom firm doubt measur constitut restructur aid commiss conclud restructur aid involv plan month suspens onlin direct sale mobil telephoni contract impos disproportion burden compani set detail paragraph take view aid measur constitut restructur aid likewis state consid compensatori measur offset undu distort competit caus grant aid agreement reach germani compani potenti compensatori measur commiss make approv aid measur pursuant articl regul ec condit cessat onlin direct sale mobilcom mobil telephoni contract pre paid post paid period month specif condit requir germani ensur mobilcom ag compani group close onlin shop direct sale mobilcom mobil telephoni contract month mobil telephoni contract pre paid post paid conclud directli mobilcom ag compani group distribut mobil telephoni contract supplier freenet de ag affect germani ensur long onlin shop close mobilcom suspend direct sale mobil telephoni contract websit mobilcom shop mobilcom ag compani group measur circumv condit period closur custom conclud onlin mobil telephoni contract pre paid post paid directli mobilcom ag compani group commiss make clear servic aim conclud mobil telephoni contract final custom continu provid onlin includ servic provid exist custom servic contract extens ring tone game period closur custom inform websit concern conclud mobil telephoni contract onlin time mobilcom websit address distribut partner custom obtain desir servic custom pass directli distribut partner mean automat link commiss requir germani start implement measur month adopt decis longer preparatori period prior implement unnecessari undermin effect measur longer close time restructur firm formul condit commiss guid germani origin propos carefulli weigh circumst commiss conclus discontinu onlin direct sale mobilcom mobil telephoni contract offset suffici distort competit occur data mobilcom gain custom gross subscrib direct onlin sale gross number custom subscrib mean mobilcom gain total custom subscrib onlin shop assum mobilcom gain custom direct sale onlin fact closur period custom conclud onlin mobil telephoni contract pre paid post paid directli mobilcom ag compani group mean mobilcom bar access increasingli import direct distribut channel consequ measur competitor temporarili benefit custom visit websit conclud contract month period measur implement likewis appear state guarante loan grant mobilcom novemb repaid compani septemb account fact guarante loan paid instal march period month correspond period mobilcom benefit full state guarante loan restructur compens distort competit caus fix durat closur onlin shop direct distribut mobilcom mobil telephoni contract month commiss see reason suppos cessat onlin direct sale mobil telephoni contract period month impos disproportion burden compani contrari take view measur interfer case limit extent busi activ compani compani acquir custom mobilcom shop independ distribut partner mobilcom main distribut channel affect shutdown direct onlin distribut assum custom conclud direct contract onlin mobilcom shutdown period turn onlin provid expect custom conclud contract mobilcom distribut channel closur period custom conclud direct onlin contract mobilcom turn competitor result loss custom appear reason distort competit occur exist custom renew contract onlin expiri mobilcom provid custom servic servic aim conclud mobil telephoni contract onlin closur period mobilcom advertis mobil telephoni product intens onlin shop highlight favour post paid pre paid product custom acquir mobilcom shop remain distribut channel commiss note discontinu direct onlin sale mobilcom mobil telephoni contract manifest deterior structur market mean point commun guidelin close onlin shop limit compensatori measur threaten mobilcom continu exist danger major competitor elimin sever weaken indirectli strengthen market leader mobil vodaphon commiss impos measur pro rata quot sale quot custom competitor withdraw mobilcom umt busi servic provid limit period regard measur suitabl compensatori measur quot sale quot mobilcom custom legal practic prohibit mobilcom act servic provid umt busi limit period commiss take view obstruct innov mobil telephoni market interest competit restrict dynam vii conclus commiss find state guarante grant eur million loan mobilcom ag restructur aid basi commun guidelin state aid rescu restructur firm difficulti compat common market pursuant articl ec treati provid germani meet condit detail recit discontinu direct onlin sale mobilcom mobil telephoni contract condit met commiss reserv make power confer articl regul ec adopt decis articl state aid germani grant mobilcom ag mobilcom hold gmbh form defici guarante assum feder govern land schleswig holstein novemb eur million loan grant compani consortium bank kreditanstalt für wiederaufbau lead bank compat common market pursuant articl ec treati provid germani compli condit set articl decis articl germani ensur mobilcom ag compani mobilcom group close onlin shop direct onlin sale mobilcom mobil telephoni contract period month mobil telephoni contract pre paid post paid conclud directli mobilcom ag compani group distribut channel distribut supplier mobil telephoni contract freenet de ag affect germani ensur long onlin shop close mobilcom suspend direct sale mobil telephoni contract websit mobilcom shop mobilcom ag compani group measur circumv condit period closur pursuant paragraph custom inform websit concern conclud mobil telephoni contract onlin mobilcom ag websit address distribut partner custom obtain desir servic custom pass directli distribut partner mean automat link germani ensur closur onlin shop commenc month adopt decis articl germani inform commiss closur onlin shop commenc month closur onlin shop submit report detail step implement measur inform commiss immedi measur termin articl decis address feder republ germani brussel juli commiss mario monti member commiss oj regul amend act access oj oj footnot oj conclud nation roam agreement april mobilcom rout voic data messag gsm gpr network offer special nationwid voic data servic gpr brand umt start xonio mobilfunkreport annual report german telecommun post regul regtp market studi march conduct deloitt amp touch behalf mobilcom xonio mobilfunkreport market studi march conduct deloitt amp touch behalf mobilcom mc settlement agreement approv gener meet mobilcom ag franc télécom part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk licenc retain licenc holder servic provid time interim report st quarter mobilcom ag commiss notic applic articl ec treati state aid form guarante point oj aid grant relev refer rate refer discount rate state aid commiss letter sg august press releas issu mobilcom septemb eur subscrib eur eur pre paid custom eur compani data press releas