LAWSUITS NEWS & LEGAL INFORMATION
Share Conversion Ratio
Frankfurt, Germany: (Nov-30-07) Several T-Online International AG shareholders brought a lawsuit against Deutsche Telekom AG, alleging that they were underpaid as a result of the company's conversion ratio. Deutsche Telekom completed a 2.9 billion euro purchase of its former T-Online Internet unit in 2006. Shareholders who did not accept the company's offer of 8.99 euros in cash per share received 0.52 Deutsche Telekom shares. A minority group of shareholders challenged the conversion ratio, saying they were underpaid. As part of a settlement reached, a judge decreed that Deutsche Telekom pay 5.25 euros per share plus interest to T- Online's former shareholders. Source stated that the deal would cost the company as much as 600 million euros, ($882 million).
[BLOOMBERG: SHARE RATIO]
Published on Dec-3-07
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