Tele2 Snaps Up bbned
Tele2 is paying 475 million Swedish kronor (US$65 million) for the DSL network operator from Telecom Italia (TIM) , which has been trying to offload its Dutch unit since 2006 (though it changed its mind on a few occasions -- see Alice Goes Dutch).
BBNed sells broadband services to residential, business, and wholesale customers, and generated revenues of SEK810 million ($111 million) in 2009.
The move strengthens Tele2's broadband position in the Netherlands, where it recently secured mobile spectrum that it can use to develop Long Term Evolution (LTE) services. (See Tele2 Wins Dutch License.)
— Ray Le Maistre, International Managing Editor, Light Reading