German ISP United Internet has bought a further 9.1% of Drillisch to bring its total indirect holding in the MVNO group to 20.7%.
United Internet described Drillisch as a “well-positioned company with promising market opportunities”, but said it…
German ISP United Internet has bought a further 9.1% of Drillisch to bring its total indirect holding in the MVNO group to 20.7%.
United Internet described Drillisch as a “well-positioned company with promising market opportunities”, but said it had no plans to raise its equity stake to 30% or more, which would oblige it to launch a mandatory takeover offer, nor to make a voluntary takeover bid.
Ralph Dommermuth, CEO of United Internet, commented: “We have known Drillisch and the Choulidis brothers on its management board for many years and value their successful management of the company.
“As a strategic shareholder, we want to accompany the further development of Drillisch and profit from its growth.”
The investment comes at a time when United Internet has been looking at full takeover opportunities. It agreed to buy smaller German rival Versatel last September for an enterprise value of €947m, and has made it clear it is looking to play a part in the consolidation of Germany’s broadband market.
