A significant increase in shares by majority shareholder Burda gives New Work a boost.

The shares of the operator of the career network "Xing" rose by 4.6 percent at the opening on Thursday. Burda now reportedly holds 74 percent of the company. According to data from the provider LSEG, the holding had previously been just over 50 percent.

New Work has been suffering from declining sales and profits for some time due to the gloomy economy. Only the recruitment business, in which the company sees its future, is still growing. As a result, the share price has fallen by around 60 percent in the past twelve months.

(Report by Hakan Ersen, edited by Christian Götz. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)