Drillisch completes acquisition of 1&1

11 Sep 2017

Drillisch has successfully completed the acquisition of 1&1 Telecommunication, the mobile and fixed network unit of United Internet. The mobile service provider acquired the remaining 92.25% of 1&1 Telecommunication through a capital increase approved by Drillisch shareholders in July. As such, 1&1 Telecommunication is now a wholly-owned subsidiary of Drillisch; in return, United Internet increased its stake in Drillisch to 73.1%.

As previously reported by TeleGeography’s CommsUpdate, in May 2017 United Internet and Drillisch announced a business combination agreement which stipulated the step-by-step integration of 1&1 Telecommunication into Drillisch via two capital increases. The transaction is aimed at creating a strong fourth player in the German telecoms market, alongside the three major full-service providers Telekom Deutschland, Vodafone Germany and Telefonica Deutschland.

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