February 10, 2016 / 7:05 PM / 2 years ago

United Internet to buy 15.31 percent stake in Tele Columbus

FRANKFURT (Reuters) - German internet service provider United Internet on Wednesday said it had agreed to buy a share package amounting to approximately 15.31 percent of shares in Tele Columbus AG.

United Internet AG said it will have a total indirect shareholding of 25.11 percent in Tele Columbus AG if the transaction is successful and approved by anti-trust authorities.

United Internet AG also said it had no plans to raise its Tele Columbus stake beyond 30 percent, a threshold which would oblige it to submit a mandatory takeover bid.

Reporting by Edward Taylor, editing by David Evans

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