United Internet up in early trade after it sells Versatel to 1&1

United Internet's UTDI.DE stock rises 3% in early Frankfurt trade after the German mobile and broadband provider sold its 1&1 Versatel division to 1&1 AG 1U1.DE for around 1.3 billion euros ($1.5 billion)

"Should be a touch above enterprise value. Also, a possible source of concern, why the group starts to shift around some assets," a local trader says

The stock is at the top of Germany's mid-cap .MDAXI index in early Frankfurt trade

($1 = 0.8684 euros)