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Telefonica Deutschland closes E-Plus acquisition

1 Oct 2014

Telefonica Deutschland, which provides fixed and mobile services under the brand O2, has announced the completion of its EUR8.55 billion (USD11.9 billion) acquisition of Dutch telecom operator KPN’s German mobile unit E-Plus, creating an operator with almost 47 million customer connections. The deal received final clearance from the European Union (EU) in August and Telefonica Deutschland subsequently completed a capital increase last month, paving the way for the conclusion of the transaction. The combination of Telefonica and E-Plus has reduced the number of German wireless network operators from four to three, with the enlarged Telefonica becoming the market leader ahead of Telekom Deutschland and Vodafone Germany.

‘The merger of our two companies provides us with the unique opportunity to act as a trend-setter and create real added value for our company and customers,’ commented Thorsten Dirks, CEO of Telefonica Deutschland Holding, adding: ‘Our clear aim is to build the leading digital telecommunications company in Germany.’ With the implementation of the acquisition, E-Plus has become a 100% subsidiary of Telefonica Deutschland, with the firm noting that the design of the corporation as well as the concrete execution of the operative strategy will be decided on in further detail in the next few months. In the course of the transaction, KPN will receive a cash disbursement as well as shares in the newly founded Telefonica Deutschland Holding.

Germany, E-Plus Group, KPN, Telefonica, Telefonica Deutschland Holding

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