Cable network: United Internet removes supervisory board at Tele Columbus

The major shareholder United Internet has enforced its own supervisory board against the wishes of the management and other shareholders of Tele Columbus (Pÿur). That goes out Stock exchange releases of the companies. The Annual General Meeting was postponed due to the dispute between 21st June and 29th August.

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  1. DESY Deutsches Elektronen Synchrotron, Hamburg
  2. Bavarian State Office for Health and Food Safety (LGL), Nuremberg, Bad Kissingen

"There were two proposals for the Supervisory Board, and United Internet's motion prevailed"said Tele Columbus spokesman Mario Gongolsky on request. This enabled United Internet to sell all former Supervisory Board members and to install its own candidates.

Tele Columbus stated on June 7, 2019: "Many shareholders are concerned about the independence of the Supervisory Board and the resulting dwindling representation of its interests and fully support the list of candidates of the Tele Columbus Supervisory Board, which shares the shareholders' concerns and also notes that two of United Internet's proposed candidates have a conflict of interest due to their positions in companies of the United Internet Group. " This contradicts the recommendations of the German Corporate Governance Code, as well as United Block's call for block voting of its six proposed candidates.

The cable operator suggested expanding the panel from six to nine members in order to give United Internet the opportunity to make three candidates of its own. But the major shareholder did not talk to himself.

at the same time rose according to the annual report in 2018 the losses of the third largest cable operator in Germany to 161.4 million. Debt grew by 6.1 percent to 1.38 billion euros. The number of customers fell 3.4 percent 2.292 million. The price of the Tele-Columbus share has fallen steadily in recent years. The market capitalization is only 228.33 million euros.

The Tele Columbus prepares by the analog shutdown on the Docsis 3.1.-Einsatz zuertertigen, in order to deliver bandwidths far above today's 400 MBit / s in private households, according to the annual report. In the current FM frequency range of 87.5 to 108 MHz, Docsis 3.1 is used to switch Internet transmission channels, which also make it possible to significantly increase the upload speed. The work to switch to the purely digital signal transmission has been connected to a standardization of the signal distribution in the headends.