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Telefonica O2 pays $1.3 Billion for German DSL-Provider

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Telecom Italia has sold its German DSL provider, Hansenet to Telefonica for EUR 900 million (USD1.33 billion) in an all cash transaction. Once the acquisition of the company is finalized, Telef nica O2 Germany will become the number three player in the German market in terms of revenue.

The combination of both companies annual revenue will amount to almost EUR 5 billion.

"As one of the leading DSL-providers in Germany, Hansenet is a perfect match for O2. Both companies are defined by a challenger spirit and have proven success stories in their fields", said Matthew Key, Chairman and CEO of Telefónica Europe. "The arrival of Hansenet into the Telefónica family would be a huge step forward for us as a European integrated telecommunications provider. This agreement underlines our clear commitment to the German market".

After the acquisition is finalized, Telefónica O2 Germany will add Hansenet's DSL customers which currently stand at around 2.2 million and will also strength the capability to serve bundle-offers of mobile and fixed net products. Telefónica will therefore become a leading integrated telecommunication provider in Germany with 15 million mobile and 2.4 million DSL customers in the country.

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Tags: telecom italia  o2  telefonica  telefonica o2  Germany