TeamViewer edges up after reducing Manchester United sponsorship

TeamViewer SE

13/09/2023 08:17

** Shares in the German software firm TeamViewer  TMV.DE 
rise 1.2% after it announces a reduction of partnership with the
English soccer club Manchester United  MANU.N  
    ** The company says this will have a positive effect on
adjusted EBITDA of around 17.5 million euros ($18.8 million) in
2024, and nearly 35 million euros in 2025   
    ** U.S. semiconductor firm Qualcomm  QCOM.O  will take over
as a front shirt sponsor, Manchester United says 
    ** "Long awaited but still a positive trigger. Lately as
takeover talks stalled risk had increased TMV might not get off
the shirts front. Still, as TeamViewer is not all the way out
some might be disappointed," a local trader notes 



($1 = 0.9314 euros)

 (Reporting by Andrey Sychev)
 ((Andrey.Sychev2@thomsonreuters.com; Twitter: https://twitter.com/sich_11))