United Internet ups Versatel stake

29 Nov 2007

Reuters reports that German ISP United Internet has said it has increased its stake in fixed line operator Versatel by 0.55%, to 20.05% and may buy additional shares. ‘For…the acquired shares…the completion of the transaction is conditional on the approval of the German Federal Cartel Office,’ United Internet said in a statement, adding that the average price per share amounted to EUR14.46 (USD21.39). The ISP said the purchase was part of its strategy in anticipation of consolidation in the German DSL market and said it was keeping its options open on increasing its stake. It noted that it had held talks with Versatel’s main shareholder both before and after its flotation earlier this year with a view to acquiring a stake in the company, but that the talks had not led to any deal.

Germany, 1&1 Versatel, United Internet (1&1)