Matomy Buys Further Tranche Of Team Internet, Increases Holding To 80%

LONDON (Alliance News) - Matomy Media Group Ltd said Friday it is increasing its stake in ...

Alliance News 13 January, 2017 | 8:10AM
Email Form

LONDON (Alliance News) - Matomy Media Group Ltd said Friday it is increasing its stake in Germany-based internet search company Team Internet AG.

Matomy said it will purchase 7,353 shares, or 10% of Team Internet, for USD10.4 million from an unnamed minority shareholder in the company. This will bring Matomy's holding in Team Internet to 80%.

Matomy noted the minority shareholder also holds options to transfer its remaining 20% stake in Team Internet to Matomy's German arm.

Team Internet's third quarter revenue in 2016 was USD15.6 million, and its adjusted earnings before interest, tax depreciation and amortisation were USD3.0 million, said Matomy.

Shares in Matomy Media Group were untraded in early Friday trading, having closed on Thursday at 124.50 pence.

By Adam Clark; adamclark@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Matomy Media Group Ltd 14.98 GBX -1.74 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.