Philippine Long Distance Telephone Company buys 10 pct stake in Rocket Internet
STOCKHOLM Aug 7 (Reuters) - Philippine Long Distance Telephone Company (PLDT) has acquired a 10 percent stake in Rocket Internet for 333 million euros in cash, valuing the company at internet incubator at 3.3 billion euros, Swedish investment firm Kinnevik said on Thursday.
Kinnevik said it would own a 21.5 percent stake in Rocket Internet after the investment.
Sources have said Rocket Internet, which is bidding to create the largest internet empire outside the United States and China, is considering a stock market listing in Frankfurt later this year which could value it at up to 5 billion euros ($6.8 billion). (Reporting by Mia Shanley, editing by Helena Soderpalm)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor who worked in Africa first Ebola case in New York City |
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Ground offensive against Islamic State months away in Iraq: U.S.
- U.S. stock futures tumble on reports of NY Ebola case