United Internet shares surge on Vodafone deal with 1&1

by | Aug 2, 2023

(Sharecast News) – Shares in United Internet surged on Wednesday after its majority-owned German mobile and broadband provider 1&1 agreed agreed a deal for Vodafone to provide 5G coverage to its customers, in a move that would see it replace Telefonica Deutschland.

In a statement, Vodafone said it would provide mobile coverage in areas not covered by 1&1’s new network, including 5G, 2G and 4G by October 2024 at the latest.

The news saw shares in Telefonica Deutschland’s shares slump almost 17% on the news, while parent company Telefonica fell 7%. Shares in Vodafone rose 3%, 1&1 soared 16% and United Internet was up 15%.

Vodafone said the commercial agreement with 1&1 was for 18 years, and it would start to deliver the 5G coverage to 1&1 customers from the second half of 2024.

It added that wholesale costs would be indexed to Vodafone’s mobile network cost to reflect the impact of inflation and technological developments over time.

Reporting by Frank Prenesti for Sharecast.com

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!