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    1U1   DE0005545503

1&1 AG

(1U1)
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Morgan Stanley fund to take over German fibre operator Tele Columbus

12/21/2020 | 03:37am EDT

BERLIN (Reuters) - A fund backed by Morgan Stanley Infrastructure Partners has made a cash offer to buy Germany's Tele Columbus AG in an agreed deal that values the fibre network operator at over 400 million euros ($487.84 million), Tele Columbus said.

The offer of 3.25 euros per share represents a 13% premium to Tele Columbus' closing share price on Friday.

Top shareholder United Internet AG on Monday said it will offer its 29% stake in exchange for a stake in the Morgan Stanley-backed investment vehicle.

Tele Columbus said the deal is likely to help finance a 2 billion euro expansion of its fibre optic telecommunications network. It said the deal is also likely to benefit United Internet group companies including 1&1 Drillisch AG, which over the weekend signed a deal to use Tele Columbus' network to market its own broadband products.

Tele Columbus also said 13% stakeholder Rocket Internet SE supports the deal.

Morgan Stanley Infrastructure Partners said the investment vehicle, dubbed Kublai GmbH, will fully subscribe to a rights issue worth 475 million euros at a price yet to be set.

It will also inject up to 75 million euros in further equity after the transaction closes, the Morgan Stanley unit said.

($1 = 0.8199 euros)

(Reporting by Thomas Escritt; Editing by Christopher Cushing)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
1&1 AG 0.08% 26.62 Delayed Quote.30.23%
MORGAN STANLEY 0.23% 90.91 Delayed Quote.32.38%
TELE COLUMBUS AG 0.15% 3.34 Delayed Quote.4.06%
UNITED INTERNET AG -0.29% 34.46 Delayed Quote.0.38%
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Financials
Sales 2021 3 879 M 4 703 M 4 703 M
Net income 2021 348 M 422 M 422 M
Net Debt 2021 418 M 506 M 506 M
P/E ratio 2021 13,2x
Yield 2021 0,19%
Capitalization 4 615 M 5 596 M 5 596 M
EV / Sales 2021 1,30x
EV / Sales 2022 1,22x
Nbr of Employees -
Free-Float 24,5%
Chart 1&1 AG
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Technical analysis trends 1&1 AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 28,06 €
Last Close Price 26,18 €
Spread / Highest target 71,9%
Spread / Average Target 7,19%
Spread / Lowest Target -23,6%
EPS Revisions
Managers and Directors
NameTitle
Ralph Dommermuth Chief Executive Officer
Markus Huhn Chief Financial Officer
Kurt Dobitsch Chairman-Supervisory Board
Alessandro Nava Chief Operating Officer
Claudia Borgas-Herold Member-Supervisory Board
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