LONDON (AFX) - German investment in UK companies in the first quarter of 2001, has risen to 4 bln stg from 1.2 bln stg in the fourth quarter of 2000, according to figures released by Zephus Corporate Finance Knowledge, the online Mergers & Acquisitions database. This figure represents 83 pct of Germany's total cross border investment in main European countries.
Over half of Germany's investment into the UK came from Bertelsmann AG's acquisition of RTL Group, the television broadcaster, for 2.6 bln stg. This deal accounted for the entire value in the communications sector and 66 pct of the total investment into the UK by Germany.
UK investment in Germany rose dramatically from 1.4 bln stg in the fourth quarter of 2000 to almost 13 bln stg in the first quarter of 2001.
Over half was attributed to British Telecommunications PLC increasing its 45 pct stake in Viag Interkom to 90 pct, the German telecoms company, for 7 bln stg.
BT later bought remaining 10 pct stake for almost 1.5 bln stg.