United Internet to take full control of Versatel from KKR

|About: United Internet AG ADR (UDIRY)|By:, SA News Editor

German internet service provider United Internet (OTC:UDIRY), has agreed to acquire full control of Versatel, a company which owns Germany's second-largest fiber optic cable network.

United Internet, which announced it was considering the takeover last month, will now acquire the 74.9% of Versatel it didn’t already own from KKR (NYSE:KKR) for €586M ($769M) in cash.