EU Regulators Approve $856 Million Sale of AOL Germany

12:16 am on November 30, 2006 | Category: Business, Internet, Regulation, Telecom Services

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European Union telecommunications regulators have given their approval to the purchase of AOL’s German business by Italy’s incumbent carrier, Telecom Italia.

Once the $856 million deal is closed, Telecom Italia will be the second largest broadband ISP in Germany with a total of 3.2 million subscribers. The competitive implications of this, however, will be limited, according to the European Commission.

“The combined firm would continue to face a number of strong, effective competitors, notably the incumbent Deutsche Telekom,” the regulatory agency said in a statement.

AOL’s userbase currently consists of 1.1 million broadband customers and 1.3 million users of dialup or ISDN internet access.

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock