Germany: Telefonica Agrees to Acquire Hansenet for 900 Million Euros.Byline: datta03 Telefonica SA, Europe s second- largest phone company, agreed to buy Telecom Italia Telecom Italia is formerly a partially state-owned Italian telco. It was once known as SIP, and it has the largest user base in Italy. Telecom Italia also owns shares in Telecom Argentina and Telecom Personal, fixed and cellular networks in Argentina. SpA s German broadband unit Hansenet Telekommunikation GmbH for 900 million euros ($1.34 billion) to expand in Germany. Madrid-based Telefonica announced the acquisition in a regulatory filing today. It aims to complete the purchase in the first quarter of 2010, Telefonica said. Telefonica Chairman Cesar Alierta is resuming acquisitions to add revenue as shrinking economies at home and abroad erode growth. Hansenet gives Telefonica about 2.2 million broadband customers in Europe s biggest economy. Hansenet plus Telefonica s operations in Germany will have combined sales of 5 billion euros, the company said in a separate statement. Vodafone Group Plc, which also considered bidding for Hansenet, had about 3 million fast-Internet customers in Germany at the end of 2008 and Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. AG had 10.6 million. Telefonica ended the first half with 253,429 broadband clients in Germany. Telefonica, Mediobanca SpA, Assicurazioni Generali Assicurazioni Generali S.P.A. is the largest insurance company of Italy.[1] It is headquartered in Trieste. Under the name of Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche, the company was founded on December 26, 1831. SpA and Intesa Sanpaolo Intesa Sanpaolo is a new banking group resulting from the merger between Banca Intesa and Sanpaolo IMI. It has clear leadership in the Italian market and a strong international presence focussed on Central-Eastern Europe and the Mediterranean basin. SpA control Telecom Italia through holding company Telco SpA. Telefonica invested 2.3 billion euros in 2007 to acquire the stake in Telco, its last major European investment before today. Telefonica s sales dropped in the first two quarters of 2009. It was the first decline in quarterly sales since 2003, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bloomberg data. The Spanish former phone monopoly yesterday raised its offer for Brazil s GVT GVT Global Virtual Time GVT German Volume Training (high-volume light-weight strength training system) GVT Ground Vibration Test GVT Government Income Trust (stock symbol) GVT Global Virtual Team (Holding) SA by 5.2 percent to 2.7 billion euros to fend off rival bidder Vivendi SA. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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