Drillisch looks for seat on freenet’s supervisory board

13 May 2011

German mobile services reseller Drillisch is looking to gain a seat on the supervisory board of freenet if plans to increase its stake in the company to over 20% are approved by local anti-trust authorities. In an interview with Dow Jones Newswires yesterday, Paschalis Choulidis, the spokesman for Drillisch’s executive board, said: ‘We would like to get closer to the company and also be represented directly on freenet’s supervisory board.’ Earlier this month Drillisch announced it was seeking to buy a 5% stake in freenet from Bank of America, raising its ownership in its larger rival to 20.2%. The transaction is subject to anti-trust approval.

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