United Internet clears with chunky discount

06 Dec 2012

Warburg Pincus sold its entire 5.5% stake in United Internet, the German broadband firm, through a €190m accelerated bookbuild this week.

UBS was sole bookrunner for the deal on Tuesday evening following a competitive process, launching with guidance of €16.00-€16.50 a share, a discount of 4.8%-7.7%

The fund was selling on the back of a strong run up in the price from €15.00 less than a month ago which bankers ...

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