European telecoms giant Telefonica has announced the completion of its acquisition of Telecom Italia’s German broadband unit HanseNet via its regional unit Telefonica O2 Deutschland. Telefonica has said it now expects to start offering HanseNet services, which are offered under the ‘Alice’ banner, in O2 stores from March 2010. However, it is understood that HanseNet will continue to operate as a separate company with headquarters in Hamburg. The acquisition is expected to make O2 the third largest player in the market in terms of revenue, generating potential annual turnover of almost EUR5 billion, with 15 million mobile and 2.4 million DSL customers. Commenting on the completion of the deal, Rene Schuster, CEO of Telefonica O2 Deutschland, said: ‘We warmly welcome HanseNet employees. Together we will change the German telecommunications market. We stand for innovation, growth and progress.’
As previously reported by CommsUpdate, at the end of January the European Commission (EC) cleared Telefonica’s acquisition of HanseNet after it concluded that the takeover would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. Telecom Italia signed a final agreement to sell the unit for EUR900 million (USD1.34 billion) in December 2009.