Telefonica Deutschland (O2) has agreed to sell its fibre optic network in Hamburg to alternative operator Versatel as part of a long-term cooperation agreement.
The deal affords Versatel one of the largest expansions of its network in its recent…
Telefonica Deutschland (O2) has agreed to sell its fibre optic network in Hamburg to alternative operator Versatel as part of a long-term cooperation agreement.
The deal affords Versatel one of the largest expansions of its network in its recent history, Telefonica Deutschland said in a statement.
Versatel will also acquire a newly-built data centre.
The financial details of the deal, subject to antitrust clearance and expected to close by the end of the year, were not disclosed.
In return, Telefonica Deutschland, awaiting antitrust clearance for its agreed €8.55bn (US$11.6bn) takeover of KPN’s German mobile unit E-Plus, has secured long-term access to the Versatel network. The deal expands their existing cooperation in fixed and mobile services, according to the statement.
Commenting on the agreement, Versatel chairman Johannes Pruchnow said the network consolidation enables the company to better respond to customers’ increasing broadband requirements.
Telefonica Deutschland CEO Rene Schuster added that the extended cooperation allows the company to deploy UMTS and LTE mobile sites within the Versatel network, enabling it to provide better data services.
Versatel, which provides telecoms and IT services, claims to have its own infrastructure in 33 German cities.
