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Business

Takeover to Create Largest ISP in Germany

Internet service provider United Internet plans to buy Web.de’s Internet portal business for about 200 million euros ($267 million) in cash and 5.8 million shares to compete with T-Online International. The takeover includes all the employees, technologies, assets as well as trademarks and licences, United Internet said. As a result, United Internet will reach more than 16 million monthly users and become the largest portal and internet service company in Germany, ahead of Deutsche Telekom’s T-Online, which currently has 13.15 million users. The takeover is expected to bring United Internet an additional two to three million euros annually. The deal is expected to be closed in April.

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