Telefonica and Drillisch sign deal for the sale of yourfone

Telefonica Deutschland via its subsidiary E-Plus Mobilfunk has signed a non-binding letter of intent (LoI) for the sale of its yourfone brand to Drillisch by January 2015. Over the next few weeks Telefonica and Drillisch will discuss details of a potential transaction, which would be subject to approval by the relevant antitrust authorities. Telefonica became owner of Hamburg-based yourfone after buying E-Plus from Dutch firm KPN earlier this year. Telefonica said the potential sale of the brand and its approximately 235,000 active subscribers ‘demonstrates determination to push ahead with the integration process under way and underlines the company’s ambition to become the leading digital telco in Germany’. The firm added that it does not currently intend to sell further customers of its combined portfolio after the merger with E-Plus. Further details with regard to the future brand architecture will be defined during the ongoing transformation and integration process. In the case of a final agreement Telefonica Deutschland expects a purchase price in the medium to high double-digit million euro range.