Start-up investor Rocket Internet has acquired a larger stake in the telecommunications group and Internet service provider United Internet. As of the middle of last week, the Berlin company's voting rights in the Montabaur-based company amounted to 5.46 percent, according to an announcement made on Monday. At its current share price of just under 29 euros, the package has a value of over 320 million euros. United Internet has long held a stake in Rocket Internet itself and, according to the latest information, held around 9 percent of the company, which had its IPO in 2016.
United Internet also holds just under 29 percent of the cable company Tele Columbus, in which Rocket Internet also acquired a 12 percent stake in October. For years there has been market speculation that United Internet boss Ralph Dommermuth could completely take over the cable company, which is particularly strong in eastern Germany. If United Internet were to exceed the threshold of 30 percent, the group would have to make a mandatory offer to the remaining shareholders.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.