European Union regulators on Tuesday cleared an agreement by Telecom Italia to buy AOL’s German Internet-access business, saying the combined company still would face formidable competition.
When the deal closes, Telecom Italia will become the second- biggest provider of broadband Internet access in Germany, with 3.2 million customers, behind Deutsche Telekom’s T-Online International.
Telecom Italia has agreed to pay $856 million in cash to Time Warner to gain the German AOL business.
The deal will bring to more than 9 million the number of Telecom Italia subscribers in Italy, France and Germany.
In Germany, the company operates Hansenet, which it acquired in 2003, and offers broadband under the “Alice” brand.
Fuente: International Herald Tribune