T-Mobile Netherlands is set to sell its fixed-line unit Euronet to DTH group Canal Digitaal Satelliet (CDS), which is looking to bolster its triple-play offering. Founded in 1994, Euronet is one of the oldest ISPs in the Netherlands and has around…
T-Mobile Netherlands is set to sell its fixed-line unit Euronet to DTH group Canal Digitaal Satelliet (CDS), which is looking to bolster its triple-play offering.
Founded in 1994, Euronet is one of the oldest ISPs in the Netherlands and has around 270,000 customers and roughly 100 employees. It provides services by partly using its own fixed-line infrastructure. Financial details were not disclosed.
BNP Paribas financially advised T-Mobile Netherlands on the sale.
For the Dutch telco, which is owned by German telecoms incumbent Deutsche Telekom, the deal fits a strategy it announced last year to focus further on mobile internet.
Thomas Berlemann, managing director of T-Mobile Netherlands, said: “In light of this strategic focus, a sale of our fixed line business enables us to become even more focused on the execution of our goals.”
CDS, owned by private equity firms Providence and Airbridge, is the sole parent of Luxembourg-based M7 Group, which provides satellite TV services in the Netherlands through its CanalDigitaal platform. CanalDigitaal used to resell broadband services from Euronet before switching to rival telco KPN.
Roderik Schlösser, a vice president at Providence, said: “The acquisition of Euronet allows us to further enhance our internet and telephony service offering in the Netherlands. As a new part of the group, Euronet will strengthen CanalDigitaal’s service proposition.”
The companies said Euronet will be run as a separate company from CDS following the deal, which they expect to close in 2014 after receiving various regulatory approvals.
