Telefonica O2 Germany confirms bid for HanseNet

14 May 2009

Dow Jones Newswires is reporting that Telefonica O2 Germany has placed a non-binding bid for Telecom Italia’s (TI’s) German broadband unit HanseNet, citing company CEO Jaime Smith. He added that the firm has not yet heard from TI, and is unsure if it on the shortlist in the process. 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. However, the Italian telco said it was likely to consider offers made after this date.