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United Internet Buys A Stake in Rocket Internet For $582 Million


United Internet AG, a internet service provider in Germany, is buying a 10.7% stake in Rocket Internet, a venture capital group for $582 million. Rocket Internet plans to create the largest Internet empire aside from the United States and China. The company is expected to list its shares later this year in Frankfurt. Rocket said the transaction values the company at 4.3 billion euros.