United Internet Says Resolved To Make No Further Investments In Holding Company Kublai GmbH
June 14 (Reuters) -United Internet AG UTDI.DE:
TODAY RESOLVED TO MAKE NO FURTHER INVESTMENTS IN HOLDING COMPANY KUBLAI GMBH
UNITED INTERNET EXPECTS NON-CASH IMPAIRMENT LOSS ON INVESTMENT IN KUBLAI OF AROUND EUR 185 MILLION IN ITS HY FINANCIAL REPORT 2024
UNITED INTERNET- WAIVING ITS RIGHT TO INCREASE STAKE IN KUBLAI TO 40% AGAIN AFTER IT WAS DILUTED TO AROUND 5% IN COURSE OF CAPITAL INCREASE IN Q1 2024
CONVINCED THAT VALUATION OF TELE COLUMBUS AG ON WHICH CAPITAL INCREASE IS BASED IS SIGNIFICANTLY TOO LOW
UNITED INTERNET- WILL NOW INITIATE CONTRACTUALLY STIPULATED ANTI-DILUTION PROCEEDINGS AND ARRANGE FOR AN ARBITRATION COURT TO REVIEW MSI'S VALUATION
UNITED INTERNET - IF COURT FOLLOWS CO'S OPINION BASED ON VALUATION COMMISSIONED BEFORE CAPITAL INCREASE, CO ENTITLED TO COMPENSATION AMOUNT OF APPROX EUR 300 MILLION
Source text for Eikon: ID:nEQ5BwJ68a
Further company coverage: UTDI.DE
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