German cable MSO Tele Columbus has revealed that German Internet services company United Internet has acquired a stake of 9.8 per cent in Tele Columbus’s issued share capital, and signed an agreement to acquire a further 15.31 per cent stake, subject to antitrust approval.
If approval is granted, United Internet would hold a 25.11 per cent stake, making it the biggest shareholder of Tele Columbus.
In a Statement, Tele Columbus said it welcomed its new shareholder and looked forward to developing a constructive relationship with United Internet which was beneficial to Tele Columbus, its shareholders and employees.
United Internet believes that Tele Columbus is a well positioned company with attractive market opportunities.
“We know Tele Columbus and its CEO Ronny Verhelst and value his successful management of the company, said Ralph Dommermuth, CEO of United Internet. “As a strategic investor, we plan to accompany the ongoing development of Tele Columbus AG and benefit from its growth in value.”
United Internet said that it does not, however, currently intend to acquire an equity stake of 30 per cent or more in Tele Columbus AG – which would oblige it to submit a mandatory bid to all other shareholders of Tele Columbus AG – nor to make a voluntary takeover bid.