freenet may hive off DSL business

21 Feb 2008

German multi-service operator freenet wants to sell its DSL business and has already started discussions with potential buyers, reports Thomson Financial. A spokeswoman said the DSL business would be transferred to a separate unit which will become a subsidiary of the company’s holding structure. She declined to say which companies have expressed an interest in acquiring the DSL business, which had an extimated 1.3 million customers at the end of 2007, but noted that proceeds from the sale could be given to freenet shareholders through a special dividend. She added that a share buyback is being planned by the company but that this would still require approval from the supervisory board.

Germany, freenet