United Internet sells directly held shares in freenet

27 Aug 2009

German broadband operator United Internet has announced it has sold 10,798,817 directly held shares in multi-service operator (MSO) freenet, corresponding to 8.43% of voting rights. The proceeds from the sale amounted to EUR93.95 million (USD134 million), corresponding to a price of EUR8.70 per share. Together with Drillisch, United Internet continues to hold 12,751,183 shares (9.96% of voting rights) in freenet via the jointly held company MSP Holding, in which each company holds a 50% stake. The contractual voting commitment between United Internet and Drillisch remains unchanged, so that the share of voting rights held by United Internet is still around 17% after the sale of the freenet shares.

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