GERMANY - Texas Pacific Group to bridge Freenet cashflow block

According to a report in German financial newspaper Handelsblatt, Freenet might receive financial support for its tender for AOL Deutschland's internet access business from Texas Pacific Group. Freenet, which is currently in the process of merging with parent company Mobilcom, is barred from accessing the Mobilcom capital it requires for the AOL tender due to shareholder objections to the merger. According to the newspaper a meeting of the supervisory board of Mobilcom on Thursday is likely to discuss a possible co-investment from Texas Pacific Group in order to effect Freenet's takeover of AOL Deutschland's internet access operations. Mobilcom owns more than 50% of Freenet, with TPG in turn holding a 28.7% stake in Mobilcom.