Telefonica to Acquire Hansenet Telekommunikation for 900 Million Euros (TEF)

11/5/2009 - Telefonica SA (NYSE:TEF) has agreed to acquire Telecom Italia's Hansenet Telekommunikation GmbH for 900 million euros, or about $1.34 billion USD, according to a Bloomberg report. Hansenet will give Telefonica about 2.2 million broadband customers in Germany. The company expects to complete the acquisition in the first quarter of 2010. Shares of Telefonica rose 2.6% in midday Thursday trading.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: acquisition, bandwidth, germany, market, nyse, securities, telecom