Shareholders approve Mobilcom-Freenet merger

News General Germany 26 AUG 2005
Shareholders approve Mobilcom-Freenet merger
[UPDATE] Shareholders of mobile services provider Mobilcom have approved the merger of the company with internet subsidiary Freenet, reports Handelsblatt. Over 99 percent of Mobilcom shareholders voted in favour of the merger, according to a Mobilcom spokesperson. The merger has already been approved by the German Cartel Office. The meeting also discussed possible legal action by Mobilcom against former shareholder France Telecom, with 73 percent of shareholders voting against examining any legal options. The shareholders of Freenet also approved the merger with Mobilcom with 99 percent of the voting shares in favour. Mobilcom and Freenet will be merged into Telunico Holding, which will later be renamed as Mobilcom-Freenet. Freenet shareholders will receive 1.5 Telunico share for 1 Freenet share and the Mobilcom shareholders will receive 1 Telunico share for 1 Mobilcom share.

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