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United Internet to buy rest of Versatel for EUR 586 mln

Wednesday 3 September 2014 | 09:21 CET | News
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United Internet has agreed to buy the rest of Versatel from private equity fund KKR. United Internet acquired 25.1 percent in Versatel at the end of 2012 and will pay EUR 586 million cash for the remaining 74.9 percent. The company will take out new loans to finance the takeover, as well as the repayment of Versatel's EUR 361 million in bank facilities. The acquisition gives United Internet the second-largest fibre network in Germany, extending around 37,000 km to 226 cities, including 19 of the 25 largest cities in the country. Over 5,000 buildings are connected directly to the network, and

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Categories: Fixed
Companies: 1&1 / United Internet / Versatel
Countries: Germany
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