United Internet to increase Drillisch stake to 20.7%

News General Germany 28 APR 2015
United Internet to increase Drillisch stake to 20.7%
German ISP and MVNO United Internet via its subsidiary United Internet Ventures acquired an approximately 9.1 percent equity stake in German MVNO Drillisch. The acquisition requires approval by Germany's Federal Cartel Office. When the purchase is closed, United Internet will have a total indirect holding of 20.7 percent in Drillisch. United Internet regards Drillisch as a well-positioned company with promising market opportunities and its product portfolio and target groups fit well with United Internet's Access business. 

CEO Ralph Dommermuth said that as a strategic shareholder, United Internet want to accompany the further development of Drillisch and profit from its growth. However, United Internet does not currently intend to acquire an equity stake of 30 percent or more in Drillisch, which would oblige it to submit a mandatory bid to all other shareholders or to make a voluntary takeover bid. 

At the end of 2014, Drillisch had 2.07 million mobile customers and United Internet had 6.79 million access customers including 2.6 million mobile customers and 4.19 million DSL customers.

Categories:

General

Companies:

Drillisch,  United Internet

Countries:

Germany

Tags:

Voice services, Data services, Messaging, Cooperations & alliances, Wireline, Wireless, M&A buyouts & divestments

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