Telefónica to pay €1m for HanseNet

Spanish telco Telefónica will pay between €900m and €1bn for Telecom Italia’s German broadband operator HanseNet, according to the El Economista newspaper.

The deal is expected to be completed within days. Telecom Italia announced that HanseNet was up for sale in February. Shortly afterwards, Telefónica, Vodafone and German cable operator United Internet reportedly made offers for the company.

HanseNet ended June with 2.29 million high-speed internet customers.