Reginal Thomas
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Deutsche Telekom Agrees To Sell Scout24 to Hellman & Friedman


Deutsche Telekom has agreed to sell a 70% stake in its digital classifieds business, Scout24 Holding, to Hellman & Friedman LLC for 1.5 billion euros in cash. Deutsche Telekom says, the deal values the company at 2 billion euros including debt. The deal still needs to pass regulatory approvals, but it expected to be completed in early 2014. Scout24 is Germany's largest internet portal for classified for real estate, cars, dating, jobs, and travel with 14 million monthly users and it operates in 22 countries. It can be compared to Craigslist.com.