freenet AG

M&A Activity • Jun 18, 2003

News Details

Ad-hoc | 18 June 2003 07:59

freenet.de AG english

freenet.de AG: Banks Give The Go-Ahead For Fixed-Line Business Takeover Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– freenet.de AG: Banks Give The Go-Ahead For Fixed-Line Business Takeover freenet.de AG / Hamburg – freenet.de AG, Germany’s second-largest online service, has finalized its takeover of mobilcom’s fixed-line business, which was executed as of Apr 01, 2003. Yesterday evening, the mobilcom AG’s lending banks and guarantors approved the takeover. “The last hurdle has been cleared. Now we can really rev up the new freenet,” rejoices freenet.de AG CEO Eckhard Spoerr. The purchase price for the fixed-line business is Euro 35 million, payable in four installments in 2003 and 2004. The takeover turns freenet.de into a full-service telecommunications provider offering Internet, telephony and DSL under one roof. In the next 12 to 18 months, freenet.de plans to invest roughly Euro 25 million in extending its network to lastingly boost its competitiveness and set free added earning potential. In the wake of the takeover, freenet.de AG is aiming for revenues in excess of Euro 600 million, and earnings before interest, taxes and amortization (EBITDA) of over Euro 75 million for 2004 – the first full fiscal year following the fixed-line business-takeover. end of ad-hoc-announcement (c)DGAP 18.06.2003 ——————————————————————————– WKN: 579200; ISIN: DE0005792006; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 180759 Jun 03