freenet AG

M&A Activity • Apr 11, 2003

News Details

Ad-hoc | 11 April 2003 07:52

freenet.de AG english

freenet.de AG Completes Takeover Of mobilcom Fixed-Line Business Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– freenet.de AG Completes Takeover Of mobilcom Fixed-Line Business ·Economic transfer effective 1 April 2003 ·freenet.de expects radical leap in revenues ·Entry into the telephony business with discount 01024 and 01019 freenet.de AG / Hamburg – freenet.de AG, Germany’s second-biggest online service, and mobilcom AG have finalized their contract to transfer mobilcom’s fixed-line business. The transfer will be retroactively effective as of April 01, 2003. It is subject to reversal should mobilcom AG’s lending banks and guarantors fail to approve it. The purchase price for mobilcom’s fixed-line business division amounts to Euro 35 million. Due to its ability to offer Internet, telephony and DSL from a single source, freenet.de will now become a full-service telecommunications provider. To boost its competitiveness, freenet.de AG will be investing approx. Euro 25 million in network extension over the next 12 to 18 months. For 2004, the first full business year following the takeover, freenet.de AG expects revenues to exceed Euro 600 million and over Euro 75 million in earnings before interest, taxes and depreciation/amortization (EBITDA). “Our purchase of the fixed-line division is a quantum leap in our company’s development. The volume of sales and the earnings prospects will multiply thanks to the fixed-line business takeover,” declared freenet.de AG CEO Eckhard Spoerr. end of ad-hoc-announcement (c)DGAP 11.04.2003 ——————————————————————————– WKN: 579200; ISIN: DE0005792006; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110752 Apr 03