Munich, Germany, 4 August 2021 – CANCOM SE has successfully completed the sale of its subsidiary CANCOM Ltd. to Telefónica TECH for an enterprise value of almost EUR 400 million. The closing of the transaction took place today, with CANCOM SE receiving cash of around EUR 390 million. The book profit of around EUR 225 million will be recognized in the CANCOM Group’s profit for the period in the third quarter of 2021.
“Following the successful sale of CANCOM Ltd., we are now concentrating our efforts on growth. Here we have already shown in the past that we can grow successfully through acquisitions and are a market consolidator,” said Rudolf Hotter, CEO of CANCOM SE. “With the completion of the transaction, we have laid a very good foundation for the further development of the CANCOM Group.”