mobilcom – freenet.de merger clears last hurdle; Drillisch acquires Telco Services

16 Jan 2007

mobilcom, Germany’s second-largest reseller of wireless services, told press yesterday that it was close to an agreement with the last of its shareholders who objected to its proposed merger with ISP freenet.de. Yesterday a court in Kiel approved a settlement, mobilcom said. As soon as the ruling is final, the two companies will merge and apply to be listed on the Frankfurt stock exchange as a single entity. Originally 24 shareholders took exception to the merger, which was agreed by a majority of members in 2005.

Meanwhile MVNO Drillisch, which owns a 10.37% stake in mobilcom, has increased its overall customer base to more than two million with the acquisition of 100% of fellow MVNO Telco Services and its 300,000 or so subscribers. No financial details have been disclosed. The deal will give Drillisch approximately 10% of the German mobile service provider market.

Germany, freenet, mobilcom