Telefonica joins E-Plus

Telefonica mast

Spanish telecoms giant Telefonica have agreed to acquire Dutch operator KPN’s German unit E-Plus. They have acquired it for five billion Euros and a stake of 17.6 per cent of its German Telefonica unit Deutschland.

Once the deal goes through, Telefonica will then be the largest mobile phone operator in Germany. They will be ahead of Vodafone and T-mobile with 43 million customers and combined revenues of €8.6 billion. Furthermore, in the whole of Europe, they would be the second biggest company in regards to clients and revenue.

The deal is expected to be closed in the first half of 2014. 

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