Telefonica:Negotiations With TI Over Hansenet At Final Stage
October 30 2009 - 8:04AM
Dow Jones News
Telefonica SA (TEF) said Friday that negotiations with Telecom
Italia SpA (TI) to buy its German broadband unit Hansenet are in
its final stages.
"We are at the final stage (of the Hansenet purchase), the
pricing," Telefonica's Chief Operating Officer Julio Linares said
in a meeting with journalists.
Hansenet had 2.34 million broadband customers at the end of 2008
in Germany, and is worth around EUR1.1 billion, according to
analysts' estimates.
Telecom Italia is selling Hansenet as part of a plan to dispose
of non-core assets. Telefonica owns a stake in Telecom Italia
through the holding company Telco.
Telefonica is Spain's largest telecommunications company by
market value and customers and has operations throughout Europe and
Latin America.
Company Web site: http://www.telefonica.com
-By Jason Sinclair, Dow Jones Newswires, 34 913958127,
jason.sinclair@dowjones.com