NextGenTel Received Report From Tax Audit

The Company has based its practice on the assumption that the taxes paid by Telio SA have been sufficient (minimum 2/3 of the equivalent Norwegian corporate income tax rate) amounting to NOK 21.3 million in the relevant period, and consequently the dividends received by the Company should not be subject to Norwegian corporate income tax as it is comprised by the participation exemption method ("Fritaksmetoden").

OSLO, Norway, 23/01/2017 (informazione.it - comunicati stampa - telecomunicazioni)

The Company has based its practice on the assumption that the taxes paid by Telio SA have been sufficient (minimum 2/3 of the equivalent Norwegian corporate income tax rate) amounting to NOK 21.3 million in the relevant period, and consequently the dividends received by the Company should not be subject to Norwegian corporate income tax as it is comprised by the participation exemption method ("Fritaksmetoden").

The Company and its tax advisors are in the process of assessing the report from the tax authorities. The Company disagrees with the tax authorities' description and use of facts and will challenge the conclusions of the report. The deadline for replying to Skatt øst is 24 February 2017 .

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