Hengeler Mueller announces five new partner and three counsel promotions
24 November 2025
United Internet AG and 1&1 AG (United Internet stake: 86.46%) have agreed on an intra-group sale of United Internet Management Holding SE (United Internet stake: 100%), including its wholly owned subsidiary 1&1 Versatel GmbH (together: 1&1 Versatel), to 1&1. Given that United Internet and 1&1 are listed companies with minority shareholders, the sale was conducted as if between unrelated third parties (‘at arm's length’).
The purchase price amounts to approx. EUR 1.3 billion. Depending on the future business development of 1&1 Versatel in the years 2027, 2028, and 2029, the purchase price may increase or decrease by up to EUR 300 million. Any such adjustment amount would be due in 2030.
1&1 will take over 1&1 Versatel with all assets, in particular the network infrastructure and liabilities. A shareholder loan of approximately 950 million euros previously granted by United Internet to 1&1 Versatel will remain with United Internet and will be secured by a guarantee from 1&1 as part of the sale.
Through the internal restructuring and the sale of 1&1 Versatel to 1&1, United Internet is combining its activities and expertise in the telecommunications business under the umbrella of 1&1.
1&1 Versatel is a provider specializing in fiber optic connections for businesses, authorities, and institutions. The company operates a fiber optic network approximately 67,000 kilometers long, reaching over 350 cities. In addition, Versatel offers extensive preliminary services for other telecommunications companies. With the acquisition of Versatel, 1&1 will in the future have the necessary infrastructure for its fixed-line and mobile business, as well as a powerful B2B business segment.
Hengeler Mueller advised United Internet on the transaction.
Inhouse team United Internet
On Unites Internet's side, Martin Düker (Group General Counsel) and Tilmann Becker (Senior Legal Counsel) handled the transaction legally.
Hengeler Mueller team for United Internet
Corporate/M&A: Daniela Favoccia (partner, lead, Frankfurt), Katharina Hesse (Düsseldorf, both partner), Lea Sophie Grohmann (senior associate, Frankfurt),
Regulatory: Katharina Hesse (partner, Düsseldorf),
Financing: Johannes Tieves (partner, Frankfurt),
Antitrust: Markus Röhrig (partner, Brussels),
IP/IT: Matthias Rothkopf (partner, Düsseldorf).
