STOCKHOLM Aug 7 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
(Reporting by Mia Shanley, editing by Helena Soderpalm)