Telefónica has closed its acquisition of German mobile operator and KPN subsidiary, E-Plus, establishing it as the leading mobile operator in Germany.
The confirmation comes after the European Commission gave final clearance to the deal last month and marks what Telefonica described as the beginning of “the new Telefónica Deutschland.”
The new company claims to be the leading mobile operator in Germany with more than 41 million mobile accounts, and makes the Telefónica Group the second largest operator in Europe in terms of mobile accesses and revenue.
In total, Telefonica Deutschland now claims around 47 mobile and fixed-line accounts and combined revenue of approximately €8 billion.
“Combining the strengths of Telefónica Deutschland and E- Plus, the new Telefónica Deutschland is better positioned to offer the market even more innovative products and services, together with a better customer experience,” said the firm.
Telefónica maintains a 62.1% stake in Telefónica Deutschland, which now includes 100% of E-Plus; KPN holds a 20.5%, and the rest is “free float”.
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