Permira supports freenet management - source
June 30th, 2008 | by admin |FRANKFURT, June 30 (Reuters) - Private equity firm Permira[PERM.UL] supports the management and supervisory boards ofGerman Internet and mobile group freenet AG (FNTG.DE: Quote, Profile, Research, Stock Buzz), a sourcefamiliar with the matter told Reuters on Monday.
There was also no plan behind the scenes for Permira to acttogether with major freenet shareholders United Internet AG(UTDI.DE: Quote, Profile, Research, Stock Buzz) and Drillisch AG (DRIG.DE: Quote, Profile, Research, Stock Buzz) to bring down freenet’smanagement, the source said.
United Internet and Drillisch, which hold 25 percent offreenet through joint holding company MSP, want to get rid offreenet’s current management and supervisory board.
“Permira is not acting together with these two firms,” thesource told Reuters.
Permira, which is buying a 25 percent stake in freenet,declined to comment on Monday. (Reporting by Philipp Halstrick)
