18.67% of freenet changes hands

22 May 2007

Investment firm TPG has agreed to sell its entire stake in German fixed line operator and ISP freenet to a unit of Berlin-based investor VATAS for an undisclosed sum, TPG said in a statement on Monday, reported by Reuters. TPG said it was selling its total stake of 18.67%. TPG had became a shareholder in cellco mobilcom in 2005, before mobilcom’s recent merger with freenet.de that formed the current company, freenet. On the Frankfurt bourse yesterday, freenet’s shares climbed 1.9% to EUR24.17 (USD32.64) on the news.

Germany, freenet, mobilcom