Court orders DeTe to pay former T-Online shareholders

News Broadband Germany 17 MRT 2009
Court orders DeTe to pay former T-Online shareholders
Deutsche Telekom has to pay compensation to former T-Online shareholders according to the verdict of the state court in Frankfurt, reports German newspaper Handelsblatt. The compensation is set at EUR 1.15 per share for 120 million shares. The shareholders claimed they received too little when Deutsche Telekom de-listed T-Online in 2006. They got 0.52 Deutsche Telekom share for each T-Online share, which compares to a value of EUR 8.22 per share. Their lawyer, Peter Dreier, demanded compensation of EUR 5.25 per share, but the court decided that EUR 1.15 is enough. Both parties are expected to appeal. Deutsche Telekom is still convinced that it has done nothing wrong, while the shareholders find the compensation too low.

Categories:

Internet

Companies:

ikanos,  T-Online

Countries:

Germany

Tags:

Shareholders & subsidiaries, Wholesale, Legislation - Lawsuits

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