United Internet To Increase Stake In 1&1
(RTTNews) - The Management Board of 1&1 AG (1U1.DE) resolved to increase share capital against contributions in kind using authorized capital. The share capital of 1&1 AG will be increased by 20%, excluding shareholders' subscription rights. United Internet AG (UTDI.DE) will receive 35,352,929 new 1&1 shares at a calculated issue price of 24.05 euros per share. United Internet AG will contribute a loan receivable of 850.24 million euros from 1&1 Versatel GmbH, an indirect subsidiary of 1&1 AG, as a contribution in kind.
As a result of the capital increase, United Internet AG's stake in 1&1 will increase from approximately 87.19% to approximately 89.32%.
At last close on Frankfurt Exchange, 1&1 AG shares were trading at 24.25 euros.
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