United Internet seeks buyers for 1.5-bln-eur email providers - report

Telefonica Deutschland Holding AG

04/08/2022 13:28

BERLIN, Aug 4 (Reuters) - United Internet  UTDI.DE  is
looking to sell two of Germany's top email providers, GMX and
Web.de, for around 1.5 billion euros ($1.52 billion), the
Handelsblatt newspaper reported on Thursday citing sources
familiar with the matter.
    Potential buyers could bid for either a minority or majority
stake in the company's consumer applications division, according
to the report.
    It said United Internet's founder and chief executive, Ralph
Dommermuth, could use the sale as a way to generate capital to
develop the group's own 5G network, which would end the group's
reliance on leasing out infrastructure from competitors.
    Perella Weinberg, the investment bank in charge of the sale,
sent out information packages to potential bidders in May,
sources told Handelsblatt, and the first bids are expected in
the coming days, with a deal to be signed as early as autumn.
    United Internet was not immediately available for comment.

($1 = 0.9837 euros)

 (Reporting by Nadine Schimroszik, Writing by Rachel More,
editing by Thomas Escritt)
 ((rachel.more@thomsonreuters.com;))