European telecoms giants Vodafone (NYSE: VOD) and Telefonica (NYSE: TEF) have agreed to share network infrastructure in Germany, Spain, Ireland and Britian in a move that will save both companies hundreds of million of pounds in costs, improve coverage quality, and help them meet the growing demand for mobile broadband, the two companies said today. The deal, which Reuters calls the biggest of its kind, had been rumored to be in the works several weeks ago, and will see the two companies sharing sites, equipment including masts, and power supply. Each will retain their own radio equipment and vendors. Telefonica Europe CEO Matthew Key said in conference call that the
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