Skip to main content

Greenberg Traurig Germany advises PLDT on the sale of Rocket Internet shares worth 163 million Euro

Berlin, May 8, 2018 – Greenberg Traurig Germany advised PLDT Inc., the largest telecommunications company in the Philippines (PLDT), on its participation in the share buyback programme of Rocket Internet SE (Rocket Internet). PLDT's subsidiary PLDT Online Investments Pte Ltd. (PLDT Online) was an anchor participant in the programme and offered 6.8 million shares to Rocket Internet. This corresponds to about 67 percent of PLDT Online’s stake in Rocket Internet. The offer was accepted by Rocket Internet at a purchase price of 24 Euro per share. The purchase price amounts to a total of 163.2 million Euro.

Greenberg Traurig Germany advised PLDT extensively on all questions of capital market law.

Greenberg Traurig has been advising PLDT regularly on transactions and corporate law issues. The team had represented PLDT already in the investment in Rocket Internet back in 2014.

About Greenberg Traurig, LLP 
Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2017 Am Law Global 100. Web: Twitter: @GT_Law.