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telegate is new majority shareholder
Munich, April 2, 2008 – The German Federal Cartel Office has as expected, approved telegate AG’s acquisition of a majority stake in klickTel AG end of March. Therewith the transaction has been successfully completed as of April 1, 2008. telegate as of this date now holds 92,8 percent of klickTel’s share capital.
This new majority holding conditions at klickTel will also be reflected in future in the company’s bodies. The present chairman of the supervisory board, Matthias Felder, and his deputy Werner Reinhardt have relinquished their posts as of April 2, 2008. Dr. Andreas Albath (CEO of telegate AG) and Ralf Grüßhaber (CFO of telegate AG) will be appointed to the supervisory board of klickTel AG.
Likewise two new members will join the management board of klickTel AG: Franz-Peter Weber (Vice President Finance at telegate AG) and Ulrich Zabel (Vice President Directory Advertising Services at telegate AG) will reinforce klickTel AG’s management team in future and in their new roles focus on the integration of both firms.
The acquisition of klickTel AG by telegate AG will create the leading alternative ‘Local Search’ provider in Germany. In total the two companies have a market share of around 15 percent of directory assistance and industry queries in Germany. They employ roughly 400 sales experts and are therefore equipped with one of the biggest nationwide sales organizations in Germany that specializes in small and medium-sized enterprises.
Press contact:
Claudia Strixner
telegate AG
Head of Public Relations
Fraunhofer Str. 12a
82152 München-Martinsried
Tel.: 089/ 8954-1188
Fax: 089/ 8954-1189
e-mail: presse@telegate.com
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