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United Internet buys stake in Rocket Internet

16
Aug
2014

By Jonathan Gould FRANKFURT (Reuters) – German Internet service provider United Internet AG is investing 435 million euros ($582 million) for a 10.7 percent stake in venture capital group Rocket Internet, the companies said on Friday. Berlin-based Rocket Internet aims to create the largest Internet empire outside the United States and China, and it is expected to list its shares in Frankfurt later this year, according to financial sources. United Internet said its investment would strengthen a long-term relationship with Rocket’s chief executive and co-founder, Oliver Samwer. Rocket said the transaction, which involves a cash contribution from United Internet and equity contributions from both United and Samwer, values Rocket at 4.3 billion euros.

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