DT interested in Fon stake, report says

28 Jan 2013

German telecoms giant Deutsche Telekom (DT) is eyeing a stake in Madrid-based Wi-Fi operator Fon, in a bid to handle the boom it has experienced in mobile data traffic. The Wall Street Journal cites people familiar with the negotiations as saying that the two companies have already signed a letter of intent, though the size of the stake and its valuation remain unclear. Fon, which was founded in 2006 by telecom entrepreneur Martin Varsavsky, says it has over seven million members who have agreed to share some of their unused broadband connection in exchange for free access to Wi-Fi at ‘Fon Spots’ across the world.

Germany, Deutsche Telekom (DT), Fon (Global Wi-Fi Network)