PRESS RELEASE
Public takeover offer to Tele Columbus
Kublai exceeds minimum acceptance threshold prior to end of acceptance period
– Minimum acceptance threshold of 50 percent has been exceeded
– Acceptance period ends on 15 March, additional acceptance period expected to start on 19 March and end on 1 April 2021
– Closing of takeover offer expected in second quarter of 2021, subject to regulatory approvals
Berlin, 12 March 2021. Tele Columbus AG (ISIN: DE000TCAG172, WKN: TCAG17), one of Germany’s leading fiber network operators, has reached a key milestone in the public takeover offer by Kublai GmbH today. Kublai, backed by Morgan Stanley Infrastructure Partners, announced that the takeover offer has been accepted for a total of 26,008,675 shares on 11 March 2021, corresponding to a stake of about 20.39 percent in Tele Columbus. Together with the 29.90 percent stake held by United Internet, which will be contributed upon completion of the offer, Kublai will hold at least 50.29 percent in Tele Columbus after the offer. The required minimum acceptance threshold of 50 percent plus one share has thus been exceeded prior to the end of the acceptance period on 15 March 2021.
“We are pleased to have reached this important milestone and are now working together with Kublai towards the closing of the transaction. We are thereby paving the way for the strategy implementation, debt reduction and further fiber expansion,” says Dr. Daniel Ritz, Chief Executive Officer (CEO) of Tele Columbus AG.
After the minimum acceptance threshold has been reached, the takeover offer can be closed as soon as the acceptance period and the additional acceptance period have expired and the outstanding regulatory approvals are granted. These approvals are expected in mid-April. In this case, the capital increase in the amount of EUR 475 million, which has been approved at the extraordinary general meeting on 20 January 2021, could still be carried out in May. The Rights Offering is guaranteed by Kublai. The promised equity capital will enable Tele Columbus to reduce its debt and to implement the Fiber Champion Strategy, which includes high investments in fiber expansion.
Tele Columbus shareholders who have not yet tendered their shares may accept the offer until 15 March 2021 and during the additional acceptance period. The additional acceptance period is expected to start on 19 March 2021 and to end on 1 April.
Further information is available at www.faser-angebot.de.
About Tele Columbus
Tele Columbus AG is one of Germany’s leading fibre network operators, which reaches more than three million homes. Through its brand PŸUR, the Company offers high-speed internet including telephony and more than 250 TV channels on a digital entertainment platform that combines linear TV with video on demand entertainment. To its housing as-sociation partners the Tele Columbus Group offers tailored models of cooperation and state-of-the-art services such as telemetric and tenant portals. As a full-service partner for municipalities and regional utilities, the Company is actively supporting the fibre-based infrastructure and broadband internet expansion in Germany. For its business customers, the Group offers carrier services and corporate solutions on its proprietary fibre network. Besides its headquarter in Berlin, the Company has locations in Hamburg, Leipzig, Ratingen and Unterföhring. Since January 2015, Tele Columbus AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock exchange.
Disclaimer
This release may contain forward-looking statements. These statements reflect the Company’s current knowledge and expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Such risks, uncertainties and assumptions may cause our actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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