freenet DSL unit sale reportedly on hold

14 Nov 2008

Reuters, citing local newspaper Handelsblatt, reports that freenet has had to put the sale of its DSL broadband unit on hold after failing to find a buyer willing to pay the asking price, rumoured to be more than EUR400 million (USD505 million). Last month people familiar with the situation told Reuters the sale was dragging on due to tough market conditions and the global credit crunch. Sale proceeds would help cover the costs of freenet’s acquisition of rival Debitel for EUR1.6 billion in April 2008.

Germany, freenet