United Internet, unit 1&1 slump after outlook cut
** Shares in German internet services company United Internet UTDI.DE and its mobile and broadband unit 1&1 1U1.DE fall 16.3% and 15.2%, respectively, after United Internet cut its 2024 outlook on Friday
** United Internet now sees 2024 sales of around 6.4 bln euros ($7.02 bln) vs around 6.5 bln previously, and EBITDA of around 1.38 bln euros vs about 1.42 bln previously
** It says H1 EBITDA was affected by increased expenses for the expansion of the 1&1 mobile network, amounting to 111 mln euros vs 40.8 mln last year
** The outlook is also hit by after-effects of a temporary outage of the 1&1 network at the end of May, it adds
** A local trader says the cut was "not necessarily expected" and the new goals are clearly below consensus
** United Internet falls to the bottom of Germany's mid-cap index .MDAXI and 1&1 to the bottom of Germany's small-cap index .SDAXI
** Both stocks are on track for their worst day since September 2020 if the losses persist
($1 = 0.9123 euros)
Reporting by Tristan Veyet
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