dropped as much as 7.8
percent as the German mobile-phone and Internet operator's
supervisory board urged direction to quickly take remaining
obstacles for a coup d'etat of competing Debitel AG.
Freenet declined 78 cents, or 6.5 percent, to 11.31 euros
as of 11:09 a.m., valuing the Buedelsdorf, Germany-based company
at 1.1 billion Euroes ($1.8 billion).
The board, which have an consultative role, called for
executives to ''promptly clear up any outstanding issues'' sol it
can quickly go through a declaration on the matter, Freenet spokeswoman
said in an e-mailed statement on April 19. Freenet
said March 26 it's negotiating a purchase of competing Debitel from
buyout house Permira Advisers LLP.
''We still anticipate a determination on the purchase within the
coming days,'' wrote , an analyst at Landesbank
Baden-Wuerttemberg inch Stuttgart, Germany. ''Freenet shares might
get under pressure level before or on the proclamation of the
decision. We urge buying the stock on such as failing as we
expect positive synergisms from the transaction.''
Heinold have a ''buy'' on the stock and
expects 120 million Euroes in cost nest egg a twelvemonth from a Debitel
, Germany's second-largest Internet
access supplier and reopened negotiation this calendar month to
acquire Freenet. , main executive director military officer of
United Internet, have said he won't purchase Freenet if it acquires
This weekend's news is ''negative inch the first, but should
increase the pressure level on United Internet to establish a concrete
takeover offer,'' said , an analyst at alpha
Wertpapierhandel in Frankfurt.
Dommermuth said in an April 4 interview he ''could
imagine'' paying 12.80 Euroes a share for Freenet. ''Under
certain statuses we could conceive of raising the terms to up to
14 Euroes a share,'' for Freenet, Dommermuth wrote in a to
Freenet chief executive officer posted by Berlin-based newspaper on its Web land site April 14.
''We are reviewing the situation,'' said United Internet
spokesman , based in Montabaur, Germany. ''There's
nothing more to state at the moment. Freenet spokeswoman in Hamburg wasn't immediately available for a statement
To reach the newsman on this story:
in Frankfurt On The Main at