Freenet takes over MobilCom’s fixed line services

11 Apr 2003

German telco MobilCom [MOBGe.BE] has finalised the sale of its fixed line assets to Freenet [FRNG.BE] for USD37.5 million, making Freenet one of Germany’s leading internet telecommunications companies. The deal covers MobilCom’s entire network infrastructure, which includes call-by-call telephony and 900,000 pre-selection customers. The sale is subject to the approval of MobilCom’s lending banks and guarantors. Freenet will now be able to offer internet, telephony and DSL services and has plans to invest USD27 million over the next 12-18 months, forecasting earnings of over USD80.5 for 2004 as a result.