Deutsche Telekom has sold its t-online.de web portal and digital marketing subsidiary InteractiveMedia to Ströer
New shares in Ströer SE worth some EUR 300 million will be issued to Deutsche Telekom AG, which corresponds to an equity investment of around 11 to 13 percent in the subsequently increased capital stock of Ströer.
“Germany’s high-reach online platform t-online.de and InteractiveMedia are ideally complemented by Ströer’s activities in the marketing of online advertising space,” comments Niek Jan van Damme, Managing Director of Telekom Deutschland GmbH. “We are delighted to have found a partner in Ströer which can further increase the potential of the portal and leverage substantial synergies on the market for both companies.”
The transaction is awaiting approval by the Federal Cartel Office and is subject to other customary closing conditions. The transaction is expected to be closed in the fourth quarter of 2015.