German mobile service provider Drillisch has announced the transfer of 13.32 million registered shares in freenet – corresponding to a 10.4% stake – to Bank of America, via its subsidiary MSP Holding. Bank of America has settled the transfer based on a volume weighted average freenet stock market price of EUR18.5067 (USD23.9). The transfer of shares will result in a discharge of loan obligations amounting to around EUR136 million. Drillisch said that the move will reduce its direct and indirect shareholding in the nominal capital of freenet to around 10.44%, and will lead to an income before tax of around EUR151 million in the company’s consolidated financial statements for the current fiscal year.
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