Deutsche Telekom Buying Online Firm Immobilienscout24; Reported $500M
By Rafat Ali - Sun 16 Sep 2007 10:08 AM PST
Update: The deal has been announced, and DT is raising its ImmobilienScout24 stake to 99.3 percent from 33.1 percent. and is paying 357 million Euros.
From our new site paidContent:UK: German telecom giant Deutsche Telekom (NYSE:DT) is making its first big Internet play since CEO Renee Obermann took over late last year: it will buy the remaining stake in Internet company Immobilienscout24, DJN reports, citing sources, and will be announced tomorrow. The 66 percent stake held by German real estate lender Aareal Bank will be bought for “no more than EUR360 million (about $500 million), valuing the Internet portal at EUR540 million,” the story said. More here.
Posted in: Countries, UK & Europe, Germany, VC+M&A
