Kinnevik to sell remaining stake in Rocket Internet

FILE PHOTO - The logo of of Rocket Internet, a German venture capital group is pictured in this September 24, 2014 illustration photo. REUTERS/Dado Ruvic/File Photo

BERLIN (Reuters) - Swedish investor Kinnevik said it is selling its remaining 6.6 percent stake in German ecommerce company Rocket Internet in an accelerated bookbuilding process.

Rocket’s shares tumbled in February when Kinnevik sold half of its stake in the company, but have since recovered the ground they lost, boosted by plans by its biggest shareholder, online food takeaway firm Delivery Hero, to list.

Kinnevik was one of the first investors in Rocket but clashed with the firm last year over the valuations of some of their joint investments. The two companies have also increasingly become competitors as they seek out promising new start-ups to invest in.

Reporting by Emma Thomasson; Editing by Susan Fenton