Telecom Italia to Acquire Time Warner's AOL Germany
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[September 18, 2006]

Telecom Italia to Acquire Time Warner's AOL Germany

TMCnet Contributing Editor
 
Telecom Italia has agreed to acquire Time Warner's AOL Germany Internet access business for a reported €675 million (U.S. $870 million) in cash. The companies plan to close the deal in four to six months.


 
The move follows Telecom Italia's (News - Alert) 2003 acquisition of German DSL network operator Hansenet. According to the companies' news release, the deal would make Telecom Italia Germany's second-largest broadband provider with more than 3.2 million total subscribers.


 
"This acquisition marks a further step in Telecom Italia's strategy of focusing on broadband services and content delivery at an international level. Since we acquired Hansenet in 2003, our German presence has gone from strength to strength, confirming the validity of Telecom Italia's Broadband strategy, and with the AOL co-branding agreement our content offer, as well as our customer base, grows," said Telecom Italia's CEO Riccardo Ruggiero in a statement.  
 
The new, five-year partnership calls for AOL to provide co-branded audience services and content on a joint Web-based portal for all of Telecom Italia's residential Internet access subscribers in Germany and will also handle all online advertising sales. AOL Germany has operated as an ISP for the past 10 years. The company has a reported 1.1 million broadband subscribers and approximately 1.3 million narrowband subscribers.
 
"This agreement to sell AOL Germany's Internet access business marks the latest step in Time Warner's strategy of focusing on our core assets to drive profitable growth. Our partnership with Telecom Italia advances AOL's worldwide transition from a business built primarily on providing Internet access to an advertising-supported business model. We look forward to AOL continuing to grow its online advertising business, both in the U.S. and overseas, to help create enhanced value for our shareholders," stated Time Warner Inc.'s chairman and CEO Dick Parsons.
 
The Telecom Italia Group
Time Warner Inc.
AOL
 
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Johanne Torres is contributing editor for TMCnet and INTERNET TELEPHONY magazine. To see more articles by Johanne Torres, please visit her columnist page.

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