MobilCom heralds positive start to year, as shareholders move to sue FT

25 Apr 2005

MobilCom says it has started 2005 positively with both its mobile and fixed line units performing strongly. Preliminary figures suggest that full year EBITDA could reach between EUR185 million and EUR200 million, up from EUR166 million last year. MobilCom says its intends to make a decision over its plan to continue its share buyback programme: it currently owns 5% of its own shares and had said that any decision to acquire more stock would be deferred until after the successful completion of its merger with freenet.de, expected to be completed at the end of 2005.

Separately, MobileCom shareholders met on Friday to vote on a proposal to sue the company’s biggest shareholder France Télécom (FT), seeking damages relating to the rollout of 3G technology. The move was taken against the advice of the MobilCom board which advised that pursuing FT was pointless as the French operator had ‘not inflicted any damages on MobilCom’.

Germany, mobilcom, Orange Group