CONSOLIDATED FINANCIAL STATEMENTS >
EXPLANATORY NOTES
160
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
Telcon Fios e Cabos para Telecomuniçaoes S.A.
On 5 April 2012, the Prysmian Group acquired, through its
subsidiary Draka Cableteq Brasil, the majority 50% controlling
interest in the Brazilian company Telcon Fios e Cabos para
Telecomuniçaoes S.A., thereby becoming its sole shareholder
F.
BUSINESS COMBINATIONS
since the Group already owned 50% of this company. For
greater practicality and in the absence of material impacts, the
acquisition date of the remaining 50% interest has been taken
as 31 March 2012 for accounting purposes, with revenues and
expenses consolidated as from 1 April 2012.
Further information can be found in Note 15. Employee
benefit obligations and Note 21. Personnel costs.
(h) Incentive plans
The employee share purchase plan involves granting options
to almost all of the Group’s employees. The operation of this
plan is described in Note 21. Personnel costs.
The grant of options is subject to an employee’s continued
professional relationship with the Group in the months
between signing up for one of the plan’s purchase windows
and the purchase of the shares themselves on the stock
market. The plan’s financial and economic impact has
therefore been estimated on the basis of the best possible
estimates and information currently available.
