Telecom Italia acquires AOL Germany

18 Sep 2006

AOL’s German ISP arm, which provides internet access to 2.4 million customers, including 1.1 million broadband subscribers, has been acquired by Telecom Italia (TI), which beat and Versatel Germany with a bid of EUR675 million (USD854.7 million). The transaction is expected to be completed in the first quarter of 2007. According to TeleGeography’s GlobalComms, TI’s German subsidiary Hansenet, which uses the brand name Alice, had 745,000 broadband subscribers at the end of June 2006. TI’s CEO Riccardo Ruggiero said he expects his company’s total ADSL subscriber base to increase to 22 million in three years, from twelve million at the end of June 2006.

Germany, 1&1 Versatel, AOL Germany, freenet, Telecom Italia (TIM)