Sweden-based alternative operator, Tele2 announced the acquisition of Dutch broadband operator BBNed from Telecom Italia (TI) for around Sk475m (US$64.8m) on a cash-and-debt-free basis.
The deal was announced by TI in a statement on the Italian bourse,…
Sweden-based alternative operator, Tele2 announced the acquisition of Dutch broadband operator BBNed from Telecom Italia (TI) for around Sk475m (US$64.8m) on a cash-and-debt-free basis.
The deal was announced by TI in a statement on the Italian bourse, and subsequently confirmed by Tele2.
The deal is expected to complete following approval from competition authorities in the Netherlands. BBNed provides fixed telephony and broadband internet to the Dutch retail, business and wholesale segments.
In 2009, BBNed reported revenue of E86m (US$110.5m) and EBITDA of E14m (US$17.7m), and had a roughly 2.6% market share in the retail broadband segment.
Telecom Italia put BBNed up for sale at the end of 2008. Its future became less certain in April 2010, however, when TI effectively relegated its Dutch venture to ‘other’ in reporting its annual results for 2009.
Morgan Stanley acted as Telecom Italia’s advisor.
