Deutsche Telekom Completes Acquisition of Orange Netherlands

1:30 am on September 29, 2007 | Category: Business, Corporate, Internet, Wireless

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German telecom incumbent, Deutsche Telekom, announced yesterday that it had closed its €1.3 billion acquisition of Dutch mobile phone and broadband operator, Orange Netherlands, which will become a part of T-Mobile Netherlands on October 1.

Deutsche Telekom announced the deal with Orange’s parent company, France Telecom in June, but did not reveal the purchase price until now.

Deutsche Telekom expects the combined company to save approximately €1 billion (US$1.4 billion) over the next few years as a result of acquisition, “in particular from network integration and reduced marketing expenses.”

The European Commission, which approved this deal in August, said that the merger would make T-Mobile the second-largest mobile phone operator in terms of subscribers, and third largest in terms of revenue.

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    Edited by Jeremy Maddock