Deutsche Telekom has concluded an agreement with Stroer SE for the sale of the online platform t-online.de and the digital marketing company InteractiveMedia CCSP GmbH. The German operator will receive new shares in Stroer in exchange for the two companies. New shares in Stroer SE worth some EUR 0.3 billion will be issued to Deutsche Telekom, which corresponds to an equity investment of around 11 to 13 percent of the increased capital in Stroer. The shares are subject to a lock-up period of 12 months.
Due to its equity investment in Stroer, Deutsche Telekom said it expects to benefit from increases in the value of the two companies within the new group in the future. The transaction is awaiting approval by the Federal Cartel Office and is subject to other customary closing conditions. The sale is expected to close in the fourth quarter.
Stroer Digital was the top digital advertising company in Germany last year, with an audience share of 66.9 percent, according to figures from AGOF. InteractiveMedia was second in the market, reaching 61.1 percent of internet users.
The disposal is in line with Deutsche Telekom's strategy of refocusing on its core services activities. The company has been considering the sale of T-Online since at least last December, with Axel Springer earlier rumoured as a potential buyer.
