The deal could be finalised by October. MobilCom is reportedly looking for a buyer for a 28.5% stake held by France Telecom and a 30% stake held by former chairman and founder, Gerhard Schmid. MobilCom is also reported to be looking to reduce its 72.9% stake in internet service provider Freenet.
Meanwhile, Schmid has been charged with fraud. The charges are in connection with a controversial share option scheme Schmid carried out with his wife in 2001 when he was still at the helm of the company.
Public prosecutors in Kiel, Germany, launched an investigation after Schmid paid 71m euros ($77.3m) to Millennium GmbH, a company controlled by his wife, Cybille Schmid-Sindram. The money was to compensate Schmid-Sindram for some of her Mobilcom shares, which Schmid used to finance a stock option program.
Source: Computerwire
