29.06.2018
freenet AG DE000A0Z2ZZ5
DGAP-News: freenet AG to acquire approximately 10 per cent of CECONOMY AG
DGAP-News: freenet AG / Key word(s): Investment
freenet AG to acquire approximately 10 per cent of CECONOMY AG
29.06.2018 / 18:13
The issuer is solely responsible for the content of this announcement.
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Büdelsdorf, 29 June 2018 - freenet AG [ISIN DE000A0Z2ZZ5] and CECONOMY AG
have today concluded an agreement regarding the acquisition of approximately
32.6 million shares issued by CECONOMY AG within the framework of a 10 per
cent capital increase (excluding shareholders' subscription rights) for a
total consideration of approximately 277 million euros or 8.50 euros per
share. After the capital increase has been carried out, freenet will hold
approximately 9.1 per cent of the ordinary shares of CECONOMY AG. The
completion of the transaction is subject to the usual conditions.
For more than 25 years, the freenet subsidiary mobilcom-debitel has been
working with MediaMarktSaturn, a subsidiary of CECONOMY AG for marketing
mobile communication offerings. This cooperation is of considerable
strategic importance for freenet. The current cooperation agreement was
prolonged in October 2017 until the year 2022, and comprises not only the
existing cooperation in high street outlets but also the marketing of mobile
agreements in online and omni-channel sales. Mobile agreements are marketed
exclusively in the networks of Vodafone and Telekom in more than 400 outlets
and also in the internet.
freenet and MediaMarktSaturn have already been agreed earlier to renew their
strategic cooperation to cover further areas, including TV access, Digital
Lifestyle services, hardware and CRM.
"By way of our distribution cooperation, we have established a long-standing
and very successful cooperation with MediaMarktSaturn which is based on
mutual trust", says Christoph Vilanek, CEO of freenet AG. "We aim to unlock
considerable impetus going forward for our mobile communications business
and also for the TV and Digital Lifestyle business."
"We are delighted to welcome such an exceptional industry expert as a new
shareholder to join us on the further implementation of our strategic
agenda. Our other three principal shareholders Haniel, Meridian Stiftung and
Beisheim as well as our supervisory board also warmly welcome the new
investor", said Pieter Haas, CEO of CECONOMY.
"We have taken advantage of the opportunity of acquiring a stake of
approximately 10 per cent for a reasonable price in a single step. Overall,
I would like to emphasise that the investment is a clear commitment to the
partnership with MediaMarktSaturn, which will benefit both parties," adds
Christoph Vilanek.
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Investor Relations:
freenet Aktiengesellschaft
Investor Relations
Deelbögenkamp 4c
22297 Hamburg
Tel.: 040 / 513 06 778
Fax: 040 / 513 06 970
E-Mail: [email protected]
www.freenet-group.de
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29.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: freenet AG
Hollerstraße 126
24782 Büdelsdorf
Germany
Phone: +49 (0)40 51306-778
Fax: +49 (0)40 51306-970
E-mail: [email protected]
Internet: www.freenet-group.de
ISIN: DE000A0Z2ZZ5, DE000A1KQXU0
WKN: A0Z2ZZ , A1KQXU
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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700305 29.06.2018
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