A company sign on a United Internet building on the premises of subsidiary and Internet company 1&1. (picture alliance/Thomas Frey/dpa/archive)
United Internet and its telecommunications division 1&1 Drillisch want to drastically reduce dividends to shareholders due to the still ongoing 5G frequency auction in Germany. A rather symbolic dividend is to be proposed at their respective annual general meetings, the two companies announced on Monday evening. Accordingly, only 5 cents per share will be distributed. The companies had already announced its intentions in the event of an auction for the frequencies - but now the mini dividend is indeed to come, although it is not yet clear who will win the auction.
The auction, which is being carried out by Germany's Federal Network Agency, has been ongoing since March. It only ends when none of the companies involved submits another bid. The four companies participating in the auction - Deutsche Telekom, Vodafone, Telefónica and Drillisch - have now bid around 6 billion euros for the frequencies. External experts had previously expected only 3 to 5 billion euros. The money is to go to the German federal government, which wants to invest it in digitization.
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