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MarketScreener Homepage  >  Equities  >  Xetra  >  1&1 Drillisch AG    DRI   DE0005545503

1&1 DRILLISCH AG

(DRI)
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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 DRILLISCH AG 0.95% 23.44 Delayed Quote.13.60%
MORGAN STANLEY -0.72% 80.13 Delayed Quote.16.05%
TELE COLUMBUS AG -0.90% 3.315 Delayed Quote.4.37%
UNITED INTERNET AG 1.10% 34.02 Delayed Quote.-2.27%
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Financials
Sales 2021 3 873 M 4 635 M 4 635 M
Net income 2021 330 M 395 M 395 M
Net Debt 2021 332 M 397 M 397 M
P/E ratio 2021 12,1x
Yield 2021 0,22%
Capitalization 4 093 M 4 900 M 4 898 M
EV / Sales 2021 1,14x
EV / Sales 2022 1,04x
Nbr of Employees -
Free-Float 24,5%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 26,11 €
Last Close Price 23,22 €
Spread / Highest target 89,5%
Spread / Average Target 12,4%
Spread / Lowest Target -31,1%
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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