So finally, a sale for AOL’s European subsidiaries, after months of bidding: AOL Germany has been sold for a has been sold to Telecom Italia 675 million euros (about $852.7 million). Considering previous reports, the final sale price came at the higher end. The transaction is expected to close in four to six months, after receiving all the necessary authorizations.
AOL will retain its portal, and provide a co-branded version for TI’s internet access subscribers in Germany (five year agreement). TI’s presence in Germany started with the acquisition of Hansenet in 2003.
TI now will be the second largest broadband provider in Germany with more than 3.2 million total subscribers, including nearly 2 million broadband customers.
Left now, AOL France and UK. WSJ says that AOL France may be sold towards the end of next week, as it has been having exclusive talks to sell the unit to French telecom operator Neuf Cegetel. And discussions with bidders for AOL UK continue and a winner is expected to emerge in about a month, the story says.
Release: AOL Germany has operated as an ISP for over 10 years and competes in both narrowband and broadband Internet access. As of June 2006, AOL Germany, ranked second and third among German narrowband and broadband access providers, had 1.1 million broadband subscribers and approximately 1.3 million narrowband subscribers.
— AOL Germany Bids Top $766 Million: Report
– AOL’s Future on Europe: The Details