Mobilcom AG
MobilCom AG english
MobilCom signs preliminary contract to sell its fixed line business to freenet A
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MobilCom signs preliminary contract to sell its fixed line business to freenet A
MobilCom AG today signed a preliminary contract to sell its fixed line business
including customers and infrastructure for EUR 35 million to freenet.de AG.
MobilCom has a 76 percent holding in freenet.de. The main reason for this sale
is the exploitation of synergies between fixed line and Internet business.
Improved integration of these two fields will increase efficiency and thus
reduce costs. In addition, infrastructure investments planned by freenet.de mean
guaranteed competitiveness in the long term. With this sale, MobilCom increases
the value of its freenet.de holding at the same time as putting itself in a
position to reduce its current debts sooner than planned if necessary. The sale
price will be paid in four instalments, two of EUR 7.5 million and two of EUR 10
million, during this and next year. The contract has yet to be approved by the
supervisory board, the warrantors and the lending banks.
end of ad-hoc-announcement (c)DGAP 17.02.2003
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WKN: 662240; ISIN: DE0006622400; Index: NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin,
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart; EUREX
171851 Feb 03
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