United Internet AG (UTDI.DE)
24 Mar 2017
Thu, Mar 23 2017
* Increase in customer contracts of 1.00 million to 16.97 million
* Says can close the transaction as planned in the first quarter of 2017 and consolidate strato in its accounts as of april 1, 2017 Further company coverage: (Frankfurt Newsroom)
* Says EBITDA grows by 13.4 pct to eur 613.3 million and EBIT by 23.9 pct to eur 468.2 million
FRANKFURT Germany's United Internet has agreed to sell a stake in its web-hosting business to private equity firm Warburg Pincus, netting 450 million euros ($497 million) for the deal but delaying a public listing of the business beyond next year.
* Shares close 5.3 percent higher (Adds CEO comments on IPO, context on market; updates shares)
* CEO says Warburg Pincus partnership is stepping stone to IP, won't happen in 2017 Further company coverage: (Reporting By Georgina Prodhan)
FRANKFURT, Nov 8 Private equity fund Warburg Pincus agreed to buy a third of United Internet's webhosting business 1&1 Internet in a deal valuing the business at 2.55 billion euros ($2.82 billion), the German internet provider said on Tuesday.