Philion SE / Key word(s): Strategic Company Decision/Takeover
Philion SE plans acquisition of mobile service provider Handyflash.de
- Acquisition of Handyflash.de and 30 branches against a 30% stake in DEINHANDY
Berlin, 11 September 2019. Philion SE (ISIN: DE000A1X3WF3) aims to take advantage of the changes in the German telecommunications market and establish one of the three leading network-independent mobile service providers. In doing so, the Group relies on an Omni-Channel strategy. In order to implement this strategy consistently and to exploit further cost advantages in purchasing, the partnership with the Swiss mobilezone group is to be intensified.
Among other things, the agreement stipulates that the partners will cooperate intensively in purchasing and relationship management with the network operators. As a result, Philion will be able to benefit from the size of the mobilezone. In addition, an asset swap was agreed: Philion will completely take over OBS GmbH with the online platform Handyflash.de and 30 stationary branches from mobilezone. Handyflash.de is the third largest online service provider in the German mobile phone market, has contracts with all network operators and already today a complete platform for the implementation of a comprehensive Omni-Channel approach. In return, Philion will sell its 30% stake in Mister Mobile GmbH with the DEINHANDY brand acquired at the end of 2018 back to mobilezone. The Philion Group will in future include the chain stores Fexcom, OBS and Helferline as well as the online platform Handyflash.
Due to the planned transaction, Mister Mobile GmbH will not be consolidated by Philion. Although the sales of more than EUR 150 million originally announced for this year will not be achieved, the transaction will not have any negative impact on the earnings forecast. The implementation of the transaction still requires the signing of the contracts. This is expected to take place this month. For the full year 2019, Philion currently expects a positive result. This corresponds to the forecast made in the management report of the 2018 annual financial statements.
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|Listed:||Regulated Market in Dusseldorf; Regulated Unofficial Market in Berlin, Frankfurt (Basic Board)|
|EQS News ID:||871907|
|End of Announcement||DGAP News Service|