United Internet gets green light for purchase of Drillisch stake

Germany’s antitrust authority the Federal Cartel Office (Bundeskartellamt) has approved United Internet’s plans to purchase a roughly 9.1% equity stake in mobile service provider Drillisch, Reuters reports. Following the completion of the acquisition, which was announced last month, United Internet will have a total indirect holding of 20.7% in Drillisch via its acquired and contractually agreed interests, making it the mobile service provider’s largest shareholder. United Internet says it does not currently intend to acquire an equity stake of 30% or more in the mobile service provider – which would oblige it to submit a mandatory bid to all other shareholders of Drillisch – nor to make a voluntary takeover bid.