News

Telefonica, Europe’s second- largest phone company, has bought Telecom Italia's German broadband business - Hansenet.



The €900 million deal will allow Telefonica to continue its plans to expand its operations in Europe and build the company's revenue through acquisitions rather than relying on organic growth which is currently very weak.



Hansenet will add around 2.2 million broadband customers for Telefonica in Germany, a huge increase on its current 253,429 broadband clients in the country.



The purchase is expected to complete in early 2010 and could be good news for Hansenet workers who will be covered by UNI's global agreement with Telefonica which guarantees basic labour rights.