Telefónica Deutschland and Drillisch sign Letter of Intent for the sale of yourfone
Munich – Drillisch AG and Telefónica Deutschland via its subsidiary E-Plus Mobilfunk GmbH & Co. KG have signed a non-binding Letter of Intent (LOI) which enables Drillisch to acquire the E-Plus holding yourfone GmbH by January 2015. During the next weeks both parties will discuss details of a potential transaction which is subject to approval by the competent bodies. Drillisch considers acquiring yourfone GmbH together with all brand rights, customers and employees thereby ensuring continuity for all stakeholders involved.
The potential sale of Hamburg based yourfone GmbH and its approximately 235.000 active subscribers clearly demonstrates Telefónica Deutschland’s determination to push ahead with the integration process under way and underlines the company’s ambition to become the leading digital telco in Germany. yourfone customers will benefit from the strong customer experience of Telefónica Deutschland’s network in the course of the integration of the E-Plus network and further performance improvements arising from this. While the transaction under discussion represents a unique opportunity, Telefónica Deutschland does currently not intend to sell further customers of its combined portfolio after the merger with E-Plus. As already announced the multi-brand strategy, Telefónica Deutschland and E-Plus were very successful in addressing different customer segments in the past, will remain in effect in the combined company. Further details with regard to the future brand architecture will be defined during the ongoing transformation and integration process.
Telefónica Deutschland has a strong heritage in cooperations in and outside the telco industry and in this context has a longstanding relationship with Drillisch. Both companies had agreed on a comprehensive network deal this summer and Drillisch also has announced plans to acquire a significant number of O2/E-Plus shops for its way forward in the German market. In the case of a final agreement Telefónica Deutschland expects a purchase price in the medium to high double-digit million euro range. There is no impact on the company’s profit and loss statement to be expected.
|Telefónica Deutschland Holding AG, listed at the Frankfurt Stock Exchange in the Prime Standard, and its wholly-owned, operationally active subsidiaries Telefónica Germany GmbH & Co. OHG and E-Plus Mobilfunk GmbH & Co. KG is part of the Spanish telecommunication group Telefónica S.A. headquartered in Madrid. The company offers its German private and business customers post-paid and prepaid mobile telecom products as well as innovative mobile data services based on the GPRS, UMTS and LTE technologies with its product brands O2 and BASE as well as several second and partner brands. In addition, the integrated communications provider also offers DSL fixed network telephony and high-speed Internet. With a significant presence in 24 countries and a customer base of more than 313 million accesses, Telefónica is one of the largest telecommunications companies around the world.|