Telefonica, United Internet place HanseNet offer

22 Apr 2009

Spanish telecoms giant Telefonica and German ISP United Internet have placed first round non-binding offers for German broadband operator HanseNet, Reuters reports, citing several people familiar with the matter. UK-based Vodafone, which was also looking to make a play for the Telecom Italia (TI) unit, has not yet made an offer and is apparently still deciding whether to move forward in the process. It was unclear whether any other companies had submitted offers at this stage. According to CommsUpdate, TI gave 20 April as a soft deadline for the submission of offers for HanseNet, which is reportedly worth around EUR1.1 billion (USD1.42 billion), although bids are expected to be lower considering the current financial climate. The Italian telco is likely to consider offers made after this date, Reuters said.