29.06.2018 - 18:30 Uhr

freenet AG to acquire approximately 10 per cent of CECONOMY AG

Büdelsdorf, 29 June 2018 – freenet AG [ISIN DE000A0Z2ZZ5] and Ceconomy AG have today concluded an agreement regarding the acquisition of approximately 32.6 million shares issued by Ceconomy AG within the framework of a 10 per cent capital increase (excluding shareholders' subscription rights) for a total consideration of approximately 277 million euros or 8.50 euros per share. After the capital increase has been carried out, freenet will hold approximately 9.1 per cent of the ordinary shares of Ceconomy AG. The completion of the transaction is subject to the usual conditions.

For more than 25 years, the freenet subsidiary mobilcom-debitel has been working with MediaMarktSaturn, a subsidiary of Ceconomy AG for marketing mobile communication offerings. This cooperation is of considerable strategic importance for freenet. The current cooperation agreement was prolonged in October 2017 until the year 2022, and comprises not only the existing cooperation in high street outlets but also the marketing of mobile agreements in online and omni-channel sales. Mobile agreements are marketed exclusively in the networks of Vodafone and Telekom in more than 400 outlets and also in the internet.


freenet and MediaMarktSaturn have already been agreed earlier to renew their strategic cooperation to cover further areas, including TV access, Digital Lifestyle services, hardware and CRM.


"By way of our distribution cooperation, we have established a long-standing and very successful cooperation with MediaMarktSaturn which is based on mutual trust“, says Christoph Vilanek, CEO of freenet AG. "We aim to unlock considerable impetus going forward for our mobile communications business and also for the TV and Digital Lifestyle business."


“We are delighted to welcome such an exceptional industry expert as a new shareholder to join us on the further implementation of our strategic agenda. Our other three principal shareholders Haniel, Meridian Stiftung and Beisheim as well as our supervisory board also warmly welcome the new investor”, said Pieter Haas, CEO of CECONOMY.


"We have taken advantage of the opportunity of acquiring a stake of approximately 10 per cent for a reasonable price in a single step. Overall, I would like to emphasise that the investment is a clear commitment to the partnership with MediaMarktSaturn, which will benefit both parties," adds Christoph Vilanek.

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