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

1&1 DRILLISCH

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Morgan Stanley fund to take over German fibre operator Tele Columbus

12/21/2020 | 03:37am EST

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 -0.08% 23.78 Delayed Quote.15.51%
MORGAN STANLEY 2.37% 79.345 Delayed Quote.12.94%
TELE COLUMBUS AG -0.15% 3.235 Delayed Quote.1.09%
UNITED INTERNET AG -0.61% 37.43 Delayed Quote.10.19%
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Financials
Sales 2020 3 803 M 4 616 M 4 616 M
Net income 2020 282 M 342 M 342 M
Net Debt 2020 388 M 471 M 471 M
P/E ratio 2020 14,3x
Yield 2020 0,23%
Capitalization 4 195 M 5 101 M 5 091 M
EV / Sales 2020 1,20x
EV / Sales 2021 1,14x
Nbr of Employees -
Free-Float 24,5%
Chart 1&1 DRILLISCH
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1&1 Drillisch Technical Analysis Chart | DRI | DE0005545503 | MarketScreener
Technical analysis trends 1&1 DRILLISCH
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 25,61 €
Last Close Price 23,80 €
Spread / Highest target 84,9%
Spread / Average Target 7,62%
Spread / Lowest Target -37,0%
EPS Revisions
Managers and Directors
NameTitle
Ralph Dommermuth Chief Executive Officer
Markus Huhn Chief Financial Officer
Michael Scheeren Chairman-Supervisory Board
Alessandro Nava Chief Operating Officer
Claudia Borgas-Herold Member-Supervisory Board
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