Competition In Germany Hurt KPN's Q3

KPN failed to meet analysts' third-quarter profits expectations due in large part to savage competition in Germany. The operator said its German E-Plus subsidiary was forced to cut pricing as customers searched for better deals. E-Plus, normally a key profit centre for KPN, signed up 210,000 new subscribers on monthly contracts during the quarter, but lower pricing resulted in a 9% drop in quarterly EBITDA according to Reuters.