Vodafone Signs Wholesale Agreement With Telefonica Deutschland

Date : 05/07/2019 @ 8:01AM
Source : Dow Jones News
Stock : Vodafone Grp. Plc ADS Each Representing Ten Ordinary Shares (VOD)
Quote : 15.92  0.24 (1.53%) @ 12:59AM

Vodafone Signs Wholesale Agreement With Telefonica Deutschland

Vodafone (LSE:VOD)
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   By Oliver Griffin 
 

Vodafone Group PLC (VOD.LN) on Tuesday said it has signed a cable wholesale agreement with Telefonica Deutschland AG (O2D.XE).

The agreement is subject to the completion of Vodafone's acquisition of Liberty Global PLC's (LBTYB) operations in Germany and is part of a remedy package discussed with the European Commission.

The U.K. telecommunications giant said the agreement will let Telefonica DE offer high-speed broadband services to consumers on Vodafone and Unitymedia's cable network in Germany.

Under the deal Telefonica DE will market broadband services over the combined Vodafone and Unitymedia cable network in Germany covering 23.7 million households, Vodafone said.

Vodafone said the European Commission will undertake market testing of the remedy package, which is expected to conclude in May.

A decision on the transaction with Liberty Global is expected in July and completion slated for later that month, the company said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

May 07, 2019 02:46 ET (06:46 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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