United Internet sells Drillisch shares

19 Oct 2009

German ISP United Internet (1&1) has announced it has sold its 5.15 million directly held shares in German mobile service provider Drillisch in an over-the-counter transaction. The proceeds from the sale amounted to EUR21.37 million (USD31.87 million), corresponding to a price of EUR4.15 per share. The company expects to post a gain from the sale of the Drillisch shares of around EUR12.4 million in the fourth quarter of this year. As reported by CommsUpdate on 27 August 2009, the ISP sold 10,798,817 directly held shares in German multi-service operator (MSO) freenet, representing 8.43% of voting rights. The proceeds from the sale amounted to EUR93.95 million.

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