Parent companies want freenet to sell DSL unit

5 Aug 2008

Drillish and United Internet, which own 25.24% of freenet, want the telco to sell its DSL unit to the highest bidder in order to reduce its debt, according to Thomson Financial citing comments made by Drillisch CEO Paschalis Choulidis to Euro am Sonntag. Vodafone Germany expressed an interest in freenet’s broadband operations at the end of last month. The executive added that freenet’s remaining operations, including its wireline and wireless services, should not be broken up further.

Meanwhile, freenet has reported that pre-tax profit fell by 95% to EUR1.9 million (USD2.8 million) for the two months between 1 April and 31 May. The company announced the result in the prospectus for its new shares published on its web site.

Germany, 1&1 (formerly 1&1 Drillisch), freenet, United Internet