✉news TechnologyInternet first seen 3 h ago, last 43 min ago, peak #19
United Internet raises 1&1 stake to 90% in €850M debt-for-equity swap
Original: United Internet lifts 1&1 stake to 90% in €850M debt-for-equity deal
United Internet has increased its stake in German telecoms provider 1&1 to around 90% through an €850 million debt-for-equity transaction. Under the deal, debt owed by 1&1 is converted into equity, consolidating the parent company's control. The move tightens United Internet's grip on the mobile operator as it continues its network rollout and seeks to strengthen the subsidiary's balance sheet.
Why now: The large-scale debt-for-equity restructuring concentrates control of a major German mobile operator in its parent company's hands.
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