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FRANKFURT (dpa-AFX Broker) - The planned acquisition of more 1&1 shares by parent company United Internet boosted both stocks on Friday. Shares in 1&1 jumped by almost 23 percent at their peak, reaching €18.90 at times, their highest level since the beginning of 2024. Meanwhile, United shares also moved significantly into positive territory despite their generous dividend discount.
United wants to increase its stake in the mobile phone operator from just under 81 percent to up to 90 percent and is offering €18.50 per share for up to 16.25 million 1&1 shares. The 1&1 share price briefly exceeded this figure on Friday at 18.90 euros, but ultimately settled at 18.22 euros, representing an increase of 18.5 percent. This was just below the offer price.
The move could cost the parent company up to around €300 million. However, United Internet also saw its share price rise by more than five percent on Friday, even though the shares were trading with a dividend discount of €1.90. Taking the discount into account, the share price gain at United would have been around 14 percent.
"United Internet's offer comes as quite a surprise to us," wrote DZ Bank expert Karsten Oblinger in an initial comment. He suspects that the reason is to consolidate the majority of voting rights, which requires a stable ownership structure in view of the investments in the expansion of the 1&1 mobile communications network. He considers the offer attractive in principle.
In its announcement, United itself said that a clear and stable shareholder structure was important. The 90 percent limit is tactical, as the remaining shares of at least 10 percent are intended to ensure that sufficient trading on the stock exchange continues. Neither the conclusion of a control or profit transfer agreement nor a delisting and/or squeeze-out is planned, it said. /tih/ag/jha/
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