Overview:
- United Internet has acquired Drillisch for $3.04 billion and is merging it with its own 1&1 Telecommunications subsidiary.
- Drillisch is a German telecommunications provider.
- The two companies together will create a business with 12 million customer contracts and combined turnover of €3.2 billion.
- United Internet shares rose almost 13% after the announcement to €48.05, giving it a market value of €9.9 billion.
- Drillisch shares rose more than 11% to €54.
- Drillisch will remain an independently listed company after the deal.
- United will transfer about 8% of its 1&1 shares to Drillisch, which will see United’s stake in it increasing from 20% - 30%.
- Bank of America Merrill Lynch was sole adviser to Drillisch, while JPMorgan advised United.
Katrin Kostadinova - Data analyst