United Internet buys Rocket Internet stake

United Internet has acquired a stake of 10.7%. Around €333m of the investment was paid in cash, while the remainder was made up of United Internet's equity stakes in a series of venture investments made through Global Founders Capital (GFC), which Rocket will consolidate under its own portfolio.

GFC is an incubator with more than 50 internet and technology portfolio companies, in which United invested in alongside the Global Founders Fund, the investment vehicle of German billionaire brothers, the Samwers.

The deal also saw the Global Founders Fund exchange their shares in GFC for a larger stake in Rocket, bringing the holding company's stake to 53.7%.

The investment comes just a week after Rocket raised $445m from the Philippines Long Distance Telephone company, adding the telecommunications business to a list of investors including Sweden's AB Kinnevik, Acess Industries and Global Founders Fund.

Rocket has been rumoured to be planning a flotation on the Frankfurt stock exchange in the coming months, and the two recent investments have brought the potential valuation of the company to €4.3bn.

Founded by the Samwer brothers, Marc, Oliver, and Alexander in 2007, Rocket has launched more than 75 start-ups since, including Foodpanda and IPO-rumoured Zalando.

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