Deutsche Telekom Gets $2.7B For Online Marketplace Stake

Law360, New York (November 21, 2013, 3:56 PM EST) -- Deutsche Telekom AG will sell 70 percent of online marketplace Scout24 Holding GmbH for €2 billion ($2.69 billion) to private equity firm Hellman & Friedman LLC, the integrated telecommunications company announced Wednesday.

Under the terms of the deal, Deutsche Telekom will retain a 30 percent stake in the group of online marketplaces that include sites like AutoScout24, JobScout24 and TravelScout24, according to a statement.

The partial sale of Scout24 is the culmination of Deutsche Telekom’s online investment strategy over the last decade, the company said. Since the telecom...
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