Tele2 acquires BBNed from Telecom Italia
By Robert Briel
Published: July 16, 2010 09.59 Europe/London
Tele2 Netherlands Holding, a subsidiary of Tele2 Sverige AB, has agreed to acquire all shares in Dutch ISP BBned from Telecom Italia for a cash amount of €50 million (SEK 475 million) on a ‘cash and debt free basis’.
BBned is a fixed telecoms provider that is active on the consumer, business and wholesale markets. BBned’s business activities are marketed under the BBeyond bnrand, while the company’s consumer brands are Alice and InterNLnet. Completion is expected following approval from Competition authorities in the Netherlands.
BBned offers on their FTTH networks a digital TV service as part of their triple play Alice Comfort Plus bouquet.
Henrik Ringmar, CEO of Tele2 Netherlands, commented in a statement: “I am very pleased that we were able to enter into an agreement with Telecom Italia about the acquisition of BBNed. This is a great opportunity for Tele2 to strengthen our Dutch business and benefit from bigger scale in our operations.”
In 2009 BBned achieved net sales of €86 million (SEK 810 million) and an EBITDA of €14 million (SEK 130 million).