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Shell to acquire stake in Deutsche Telekom-led toll services provider

Shell to acquire stake in Deutsche Telekom-led toll services providerFRANKFURT: A unit of Royal Dutch Shell is acquiring a 15-percent stake in Toll4Europe, an electronic toll service provider that is controlled by Deutsche Telekom, the German company said on Wednesday.

The unit, euroShell Cards B.V, joins a consortium that comprises Telekom unit T-Systems International, which will retain a 55 percent stake, while Daimler and DKV Euro Service will own 15 percent each.

Toll4Europe, founded in 2017, offers a universal toll box and contract for trucks to pay road, bridge and tunnel tolls under European Union legislation that requires such systems to be interoperable between countries.

The stake acquisition by euroShell is subject to clearance by the competition authorities, Deutsche Telekom said in a statement.

Copyright Reuters, 2018

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Source: Brecorder

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