United Internet bid gets 1.78% of Drillisch shares

Monday 17 July 2017 | 17:33 CET | News

As part of the step-by-step acquisition of 1&1 Telecommunication SE by Drillisch AG under the umbrella of United Internet AG, United Internet announces the final result of the accompanying voluntary tender offer for Drillisch: As at the expiry of the additional acceptance period on 12 July 2017, the tender offer has been accepted for a total of 1,224,157 Drillisch shares. This corresponds to a stake of approximately 1.78 percent in Drillisch, based on a total number of 68,826,818 million issued Drillisch shares (as of 30 June 2017). Together with its existing shareholding, United Internet now directly and indirectly holds a total stake of approximately 30.95 percent in Drillisch.

With the expiry of the voluntary tender offer United Internet has successfully concluded a further step towards creating a strong fourth player in the German telecommunications market. The complete acquisition of 1&1 Telecommunication by Drillisch and the completion of the overall transaction agreed upon with Drillisch on 12 May of this year are now only subject to the effective approval of the Drillisch shareholders. If they approve the proposed capital increase at the extraordinary general meeting on 25 July, United Internet’s interest in Drillisch will increase upon registration of the capital increase in the commercial register to at least 73.11 percent, including the shares tendered into the offer. The overall transaction is still expected to be completed by the end of 2017.

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