New Street: 1&1 (Buy, €36, +45%) United Internet (Neutral, €39, +11%) New Rakuten partnership and supportive Q2 results
1&1 and United Internet have reported a decent set of Q2 results; upgraded their 2021 EBITDA guidance and also announced a new network partnership with Rakuten to help build out their German network on OpenRAN technology, which is being reported as worth €1.9-2.3bn.Rakuten is mainly engaged in the Internet-related business. Along with its affiliates, Co. operates in two business segments. The Internet Services segment is engaged in the operation of electronic commerce sites, including an Internet shopping mall "Rakuten Ichiba," an online cash back site, a travel booking site, portal sites and digital contents sites; the sale of advertising on Co.'s sites; the provision of messaging and communication services; and the management of a professional baseball team "Tohoku Rakuten Golden Eagles." FinTech segment is engaged in the provision of Internet banking services and online securities trading services, and the credit card and life insurance businesses.
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