BREAKING: German media giant Burda has used its digital arm to purchase a 25.1% share in XING, the business social network that is biggest in Germany and competes with LinkedIn. The 1,323,041 shares were sold to Burda by Cinco Capital, the investment vehicle owned by the former XING co-founder Lars Hinrichs. Priced at €36.50 per share, the deal is therefore worth €48.3 million. This makes Burda Digital the largest shareholder in XING.

More details to follow