Telefonica, Vodafone set to bid for HanseNet

2 Apr 2009

UK-based Vodafone Group and Telefonica of Spain are preparing bids for Telecom Italia’s (TI’s) German broadband service provider HanseNet, according to British broadsheet the Telegraph. The two companies are working on preliminary, non-binding offers for HanseNet and have been asked to submit bids by 24 April. Other potential bidders include German ISP United Internet (1&1) and unidentified private-equity companies. Meanwhile, Turkcell, Turkey’s biggest cellco by subscribers, has reportedly withdrawn from the bidding process.

HanseNet is reportedly worth around EUR1.1 billion (USD1.46 billion), although bids are expected to be lower considering the current financial climate. According to TeleGeography’s GlobalComms database, HanseNet, which uses the brand name Alice, had a broadband subscriber base of 2.34 million at the end of 2008.