neuf Cegetel agrees USD365 million deal for AOL France

22 Sep 2006

French alternative operator neuf Cegetel has agreed a USD365 million cash deal with US-based Time Warner to acquire the latter’s French internet access business AOL France. Under the terms of the deal, neuf Cegetel will get control of AOL France’s access business, including its 500,000 ADSL customers, lifting neuf Cegetel’s broadband subscriber total to over two million – well ahead of its end-year target for achieving this goal. It will also acquire its ASME operation, which manages AOL France’s customer service operations. Time Warner is reportedly offloading its internet operations to focus on gaining advertising revenues from its free web sites. It has recently struck a similar deal to sell off its German business to Telecom Italia and is actively looking for a buyer for its UK operation. The AOL France deal is expected to close at the end of October, pending approval from French competition authorities.

France, neuf Cegetel