TELES AG Informationstechnologien — M&A Activity 2001

Dec 19, 2001

News Details

Ad-hoc | 19 December 2001 07:34

Teles AG english

TELES Steering towards Cooperation Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– TELES Steering towards Cooperation Berlin, December 19th 2001 TELES AG, a corporation listed on the stock exchange Neuer Markt, and another very successful value-added Internet service provider, entered into an agreement to try to steer towards cooperation in all common business areas. One of the immediate advantages of the intended cooperation would be realized, in particular, in the web hosting business area. In this field, the number of domains jointly hosted by both companies would make them market leader in Europe and would increase their common annual income by several million Euro. But the main advantages of this intended cooperation would be of strategic nature. They would result from harmonizing both concerns with respect to opening up the eBusiness potentials of the German “Mittelstand” economy and to enhancing their potentials for the international expansion of their highly profitable business. Based on a common Memorandum of Understanding, both groups just entered into contractual negotiations. The cooperation contract should be ready for signature already in January 2002. During the last Quarters, the TELES group performed a rigorous realignment of its business activities in favour of high margin value-added Internet services – WebHosting & eBusiness Development, WebLearning & eBusiness Training, WebHighspeed Access. This rearrangement has been vastly finalized, already. As a consequence, the group now is EBITDA-/EBIT-/EBT-positive again, achieved already a very comfortable cash situation, and faces a promising growth ahead (see the Report on Q3/2001 and the corresponding Road Show Presentation on http://www.teles.de). Prof. Sigram Schindler, CEO end of ad-hoc-announcement (c)DGAP 19.12.2001 ——————————————————————————– WKN: 745490; ISIN: DE0007454902; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 190734 Dez 01