Deutsche Telekom to acquire Austrian Telering
An AFP newswire article, via Yahoo! News, reports that:
Europe's largest telecommunications operator, Deutsche Telekom of Germany, has said it was to acquire Austrian mobile phone operator Telering for 1.3 billion euros (1.6 billion dollars), boosting its market share in a notoriously competitive market.
Deutsche Telekom said Wednesday it saw benefits of scale of 300 million euros in the deal, which is to be wrapped up by the end of the year.
Telering, Austria's fourth largest mobile telecommunications company, is a unit of Western Wireless Corporation of the United States, which is itself a subsidiary of Alltel Corporation. Alltel has said it wants to reduce its international operations to concentrate on its US-based activities.
Deutsche Telekom said that the acquisition, which needs approval from the Austrian telecommunications authority as well as the European Commission, will enable its mobile telephone unit T-Mobile to greatly expand its business in Austria, where a price war has sharpened the rivalry between firms.
posted by Fergie @ 8/10/2005 09:11:00 AM
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