United Internet raises 1&1 Drillisch stake to 75.1%

11 Jul 2019

Germany’s United Internet says it has ‘taken advantage of the current share price level’ of 1&1 Drillisch and increased its stake in the fixed and service provider from 73.29% to 75.10%. The firm adds that the move ‘underlines its commitment to the path taken by 1&1 Drillisch to build its own mobile network after the successful 5G frequency auction,’ but added that the conclusion of a control and profit transfer agreement is not planned.

1&1 Drillisch was created following mobile service provider Drillisch’s 100% acquisition of fixed and wireless operator 1&1 Telecommunications from United Internet in September 2017. The combined entity acquired 2×10MHz of 2100MHz frequencies for EUR334.9 million (USD376 million) and 50MHz of 3.6GHz spectrum for EUR735.2 million at auction in June 2019, with a view to becoming Germany’s fourth mobile network operator.

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