T-Mobile taking over Dutch arm of Tele2 mobile provider

The Dutch arm of T-Mobile says it is taking over telecom and internet provider Tele2's operations in the Netherlands, in a move T-Mobile says is aimed at competing with local heavyweights KPN and VodafoneZiggo.

T-Mobile will pay 190 million euros ($224 million) and give Tele2 a 25-percent stake in the new combined company. T-Mobile parent company Deutsche Telekom will own 75 percent. The deal announced Friday is subject to approval by competition authorities.

Deutsche Telekom says the combined company will have revenues of more than 2 billion euros and about 4.3 million .

Soren Abildgaard, CEO of the Dutch T-Mobile, says the new company "will be able to compete against the duopoly much more efficiently and give all Dutch customers a fair choice."

© 2017 The Associated Press. All rights reserved.

Citation: T-Mobile taking over Dutch arm of Tele2 mobile provider (2017, December 15) retrieved 20 June 2024 from https://phys.org/news/2017-12-t-mobile-dutch-arm-tele2-mobile.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

BT deal to buy German-French mobile venture is cleared


Feedback to editors