Neuf Cegetel Agrees to Acquire AOL France

12:22 am on September 22, 2006 | Category: Business, Corporate, Internet, Telecom Services

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AOL has announced the pending sale of another of its European divisions, with Neuf Cegetel agreeing to purchase AOL France at a price of 288 million Euros.

Neuf, which already provides AOL with wholesale DSL services, will now be able to take over the ISP’s entire French customer base, as well as the associated customer support department, and about 140 employees.

This is considered a big success for Neuf, allowing it to achieve its goal of having 2 million broadband internet subscribers a year earlier than expected.

Regulatory approval for the AOL sale will most likely be granted by the end of October, allowing for a quick and relatively easy acquisition process.

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