Berlin-based business incubator Rocket Internet has acquired a 12.29% stake in German cable operator Tele Columbus. As per a shareholder announcement by the cableco, Rocket Internet intends to acquire further voting rights within the next twelve months but does not seek to take control of the company’s executive or supervisory boards. The investment – which has been disclosed as it surpasses the 10% threshold – forms part of Rocket Internet’s strategy to ‘establish a worldwide network of tech companies’.
TeleGeography notes that United Internet became the largest shareholder of Tele Columbus in February 2016, but does not seek to acquire an equity stake of 30% or more– a threshold which would oblige it to submit a mandatory bid to all other shareholders of the cableco.