Deutsche Telekom sells stake in online classified-ads firm Scout24 – Nasdaq

Reuters


FRANKFURT, June 21 (Reuters) - Deutsche Telekom 
said on Wednesday it completed the sale of its remaining stake
in online classified-ads firm Scout24 .
    The placement of its remaining stake of 9.3 percent was done
in an accelerated book-building process for 32.20 per share,
Deutsche Telekom said in a statement on Wednesday.
    That was a 6 percent discount to the closing price of
Scout24 on Tuesday at 34.265 euros.
    Deutsche Telekom will receive around 321 million euros
($357.3 million) in gross proceeds.
    Scout24 management sold 300,000 shares in the same
placement. Shares in Scout24 dropped 4.5 percent in trading to
32.73 euros on Wednesday.
    Barclays Bank PLC and Morgan Stanley were the bookrunners on
the placement.
($1 = 0.8984 euros)

 (Reporting by Harro ten Wolde; Editing by Tom Sims)
 ((harro.tenwolde@thomsonreuters.com; +49 69 7565 1271; Reuters
Messaging: harro.tenwolde.thomsonreuters.com@reuters.net))

Keywords: SCOUT24 AG DEUTSCHE TELEKOM/


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