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Drillisch, Freenet May Buy German Mobile Assets: Bankhaus Lampe 2014-02-05 09:47:41.542 GMT
By Sam Chambers Feb. 5 (Bloomberg) -- German regulators are likely to tie the approval of the E-Plus/O2 Deutschland merger to the sale of 3m-6m of its mobile customers, Bankhaus Lampe says. * Says there are 9 mobile communications assets, at a total value of ~EU368m, that would interest Drillisch and Freenet if available for sale * Says Freenet could currently finance acquisitions of up to EU313m and Drillisch EU231m * Expects United Internet to continue its strategy of generating organic growth in mobile * Bankhaus Lampe downgrades Freenet to hold following strong run in the shrs; increases PT by 4% to EU24 (9% upside) * Reiterates Drillisch at buy and increases PT by 4% to EU26 (15% upside) * NOTE: In Dec., Drillisch sold EU100m convertible bonds and Freenet obtained EU300m credit line * NOTE: EC has set a May 14 deadline to rule on proposed merger of E-Plus/O2 Deutschland
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--Editor: James Ludden
To contact the reporter on this story: Sam Chambers in London at +44-20-7673-2021 or schambers7@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net