Fergie's Tech Blog

Telecom Italia to Buy AOL Germany for EU675 Million

Chiara Remondini and Andrew Frye write for Bloomberg News:

Telecom Italia SpA, the country's biggest telephone operator, agreed to buy Time Warner Inc.'s AOL Germany division for 675 million euros ($855 million) to gain clients as part of a new strategic focus on Internet operations.

With the acquisition, Telecom Italia will have 3.2 million subscribers in Germany, including 2 million broadband customers, the Milan-based company said in a stock-exchange statement today.

posted by Fergie @ 9/17/2006 12:10:00 PM