Mergers and Acquistions News
Categories: Telecoms
November 19th 2008, 16:07PM
Claims that United Internet (UI) is looking to acquire Freenet AG's DSL business are untrue, it has been revealed.
In a statement issued by UI, it revealed that it had dropped its interest in the takeover as long as go as October, informing its rivals of this through a letter to Freenet's legal representatives.
However, a recent article in German newspaper Borsen-Zeitung reported comments by Freenet chief executive Eckhard Spoeer which indicated that such a bid had been lodged.
"Insofar as this creates the impression that UI is still taking part in this selling process, this is not true," the firm's statement reads.
Last week, Reuters reported that insiders at Freenet had told another German news provider, Handelsblatt, that the divestment of its DSL arm has been put on hold.
The source claimed that this was because the asking price of €300 million (£255 million) is too high and the economic climate is not conducive to such a deal.
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