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Germany: Internet Provider Acquired
Category: Internet
A German mobile phone company, Freenet, agreed to buy a rival, Debitel, for 1.63 billion euros ($2.5 billion), forming Germany’s third-largest mobile phone company and fending off a takeover from United Internet. Freenet will acquire Debitel from a buyout firm, Permira Advisers, it said. Freenet will issue 32 million new shares to give Permira a 24.99 percent stake in the merged company and receive a loan of 132.5 million euros from the buyout firm. United Internet, Germany’s second-largest Web provider, after Deutsche Telekom, made a tentative bid of 16 euros a share for Freenet, which is based in Büdelsdorf, but said it was no longer interested in acquiring the company.
http://www.nytimes.com/2008/04/29/business/worldbusiness/29fobriefs-
INTERNETPROV_BRF.html?ref=technology
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