1 & 1 share climbs +19 percent: United Internet wants to expand 1 & 1 share

United Internet currently holds around 80.81 percent of the share capital of 1 & 1. With the offer, the aim is to expand the existing participation and to consolidate the majority of voting rights, as United Internet announced on Friday morning. A “clear and stable” shareholder structure is particularly important with regard to the investments that are upcoming in the next few years. At the same time, a freefloat of at least 10 percent should be preserved.

The offer of 18.50 euros per 1 & 1 share includes a bonus of approx. 20 percent compared to the Xetra closing course from Thursday or approx. 29 percent compared to the volume-weighted Xetra average course of the past three months. According to United Internet, the conclusion of a domination and/or profit transfer contract, a delisting and a squeeze-out are not planned.

United Internet share and 1 & 1 share in focus

The planned acquisition of more 1 & 1 shares by the parent company United Internet helped its shares to win on Friday. Despite their lavish dividend discount, you will win 5.06 percent to EUR 22.84 despite your lush dividend discount. The stocks of 1 & 1 were exposed to the trade. In the official Xetra, the titles ultimately won 20.29 percent to 18.50 euros. They jumped up by almost 23 percent in the top and at times reached the highest level since the beginning of 2024 at 18.90 euros.

United wants to increase the proportion of the mobile operator from just under 81 to up to 90 percent and offers 18.50 euros per share for up to 16.25 million 1 & 1 pieces. The 1 & 1 course was briefly over 18.90 euros on Friday, but recently settled in 18.22 euros by an increase of 18.5 percent. He stayed just below the offer.

The parent could cost the parent company up to around 300 million euros. United Internet recently came up with more than five percent on Friday, although the stocks were traded with a dividend discount of 1.90 euros. The discount with the discount, the course plan at United would also have been around 14 percent.

“The United Internet offer is quite surprising for us,” wrote DZ-Bank expert Karsten Oblinger in a first comment. As a reason, it suspects a consolidation of the majority of voting rights, which requires a stable owner structure in view of the investments in the expansion of the 1 & 1 mobile radio network. Basically, the offer seems attractive to him.

In the message, United himself said that a clear and stable shareholder structure was important. The limitation to 90 percent is tactically shaped, because with the remaining proportions of at least 10 percent, a still sufficient stock exchange trading is to be guaranteed. Neither the conclusion of a domination or profit transfer agreement nor a delisting and/or a squeeze-out were planned, it said.

Dow Jones / DPA-AFX

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