DGAP-News: Philion SE
/ Key word(s): Takeover/Strategic Company Decision
Philion SE: Acquisition of Handyflash.de is the beginning of growth acceleration
- 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. Now the strategic build-up phase has been completed and the growth of the group is gaining speed. An exchange of shareholdings was agreed with the Swiss mobilezone group. In addition, the partnership is to be intensified in order to exploit cost advantages. The M&A activities are to be continued in the coming months.
"With the acquisition of Handyflash.de and the even closer partnership with mobilezone, we have created the prerequisites for implementing the Omni-Channel approach much faster and bringing it to market. In addition, we can realize cost advantages along the entire value chain," says René Schuster, Chairman of the Board of Philion SE. "Philion is actively helping to break down the outdated sales structures in the German telecommunications market and will offer customers significant added value. It will not matter whether they prefer to shop online or come to the stores. All customers can look forward to innovative products, competent advice and attractive prices".
The agreement with mobilezone provides for the following: Philion acquires OBS GmbH with the online platform Handyflash.de and 30 stationary branches. 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, which it acquired at the end of 2018. In addition, the two partners will cooperate intensively in purchasing and relationship management with the network operators. As a result, Philion will be able to benefit from considerable economies of scale on the cost side.
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. 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:||871919|
|End of News||DGAP News Service|