Reuters logo
2 months ago
BRIEF-Drillisch says is integrating 1&1 Telecommunication into itself under United Internet's umbrella
May 12, 2017 / 3:33 AM / 2 months ago

BRIEF-Drillisch says is integrating 1&1 Telecommunication into itself under United Internet's umbrella

2 Min Read

May 11 (Reuters) - Drillisch Ag

* Drillisch ag: Integration of 1&1 telecommunication se into drillisch under umbrella of united internet: conclusion of a business combination agreement

* Drillisch AG - Drillisch and united internet ag have entered into agreement governing step-by-step acquisition of 1&1 telecommunication

* Drillisch AG - Transaction will be accompanied by voluntary ublic tender offer submitted by united internet for all outstanding shares of Drillisch

* Agreement to acquire 1&1 Telecommunication se by Drillisch under umbrella of united internet

* Jointly-Identified synergies from integration expected to arise at level of their combined business starting in 2018

* Agreement has approval of both companies' supervisory boards and specifies key details of this acquisition

* Jointly-Identified synergies include expected annual volume of EUR150 million by as early as 2020, rising to eur250 million annually by 2025

* To achieve these synergies, companies expect one-off implementation costs of around EUR 50 million at combined business level

* Acquisition of 1&1 telecommunication by Drillisch is to be implemented in two steps

* Drillisch -on implementation of both capital increases, united will be Drillisch's new majority shareholder about 72.7%, plus shares tendered into tender offer Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below