FRANKFURT (Thomson Financial) - Drillisch AG and United Internet AG joint venture company MSP is planning to make an offer to buy Freenet AG this week at price of up to 24 eur per share, Financial Times Deutschland said in a prereleased article, citing sources.
The 24 eur per share price represents a premium of 25 pct based on the closing price of Freenet last Friday and a total value of around 2.3 bln eur for the whole of Freenet.
MSP, which currently holds nearly 30 pct stake in Freenet, would need to acquire 21 pct stake in Freenet in order to gain a majority stake in the company.
At 24 eur per share, the 21 pct stake would represent a price of around 480 mln eur, the report said. marilyn.gerlach@thomson.com mog/jlw COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.