Deutsche Telekom sells 70%-stake in Scout24 for 1.5 bn euros

Nov 21, 2013

German telecoms giant Deutsche Telekom said Thursday it has agreed to sell Scout24—which owns the online classified portals ImmobilienScout24 and AutoScout24—for 1.5 billion euros ($2.0 billion).

Deutsche Telekom said in a statement it has signed a "definitive agreement to sell a 70-percent stake in Scout24 Holding" to US fund Hellman & Friedman.

"Deutsche Telekom will retain a 30-percent stake in the company. The transaction, expected to close in the first quarter of 2014, will generate cash proceeds at closing of approximately 1.5 billion euros," the statement said.

The transaction was subject to regulatory approvals and other customary closing conditions, it added.

"Deutsche Telekom will benefit from a meaningful participation in the future value creation of Scout24," the German group said.

"With Hellman & Friedman we have found the right partner to further develop Scout24. H & F is one of the leading investors in digital, internet and people businesses," said chief executive Rene Obermann.

"We are very confident in the prospects for Scout24 under the stewardship of H & F in the years to come."

Explore further: China's Xiaomi raises more than $1 bn in funding

add to favorites email to friend print save as pdf

Related Stories

Court nixes Deutsche Telekom's broadband cap

Oct 30, 2013

A court in Germany has struck down plans by the country's biggest telecom company to drastically reduce Internet speeds for fixed-line broadband customers who surf too much.

Deutsche Telekom adds more US customers

Nov 07, 2013

Telephone company Deutsche Telekom said Thursday it made a net profit of 588 million euros ($793 million) in the third quarter as it continued to add customers at T-Mobile USA.

Deutsche Telekom shares soar on AT&T deal

Mar 21, 2011

Shares in Deutsche Telekom soared more than 10 percent on Monday as investors welcomed the planned sale of the German firm's T-Mobile USA unit to AT&T in a $39-billion deal. ...

Deutsche Telekom profit up, sees rebound in US

Aug 08, 2013

Telephone company Deutsche Telekom AG said net profit increased 10 percent in the second quarter to 530 million euros ($704 million) and said its U.S. business was adding "droves" of new customers as its operations there ...

CEO of T-Mobile USA resigns, succeeded by COO

Jun 27, 2012

(AP) — T-Mobile USA, the country's fourth-largest cellphone carrier, on Wednesday said that its CEO has resigned and its chief operating officer is filling in while the company searches for a replacement.

Recommended for you

China's Xiaomi raises more than $1 bn in funding

7 hours ago

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

Dec 20, 2014

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.