Telefonica Deutschland Closes Sale Of Yourfone To Drillisch

(RTTNews) - Telefonica Deutschland Holding AG (TELDF.OB, TFTHF.OB) said Friday that it has closed the sale of yourfone GmbH to German telecom company Drillisch AG (DRHKF.PK), as announced in mid-November. Telefonica Deutschland is part of Spanish telecom group Telefónica S.A. (TEF, TDE.L).

Drillisch will acquire Hamburg-based yourfone GmbH, including all trademark rights, customers and staff. The company has assured full continuity for customers and staff of yourfone, which has about 235,000 active subscribers. Yourfone is a company of E-Plus.

Telefonica Deutschland noted that with the deal, it is expediting the process of integration. The company added that it has not planned further disposals of the customer base from the joint portfolio of Telefonica Deutschland and E-Plus.

While announcing in mid-November that it has concluded a non-binding letter of intent with E-Plus regarding the acquisition of all shares of yourfone, Drillisch noted that the purchase price amounted to a mid to up to a high double-digit million range.

In October, Telefonica Deutschland said it completed the acquisition of Dutch telecom operator Royal KPN NV's (KPN, KKPNY.PK, KKPNF.PK) German mobile telecom business, the E-Plus Group.

Drillisch and Telefonica Deutschland said in late June that under an agreement between them, Drillisch's unit MS Mobile Services GmbH agreed to acquire 20 percent of the capacity of all mobile networks that will be under the control of Telefonica Deutschland following the consummation of the proposed acquisition of E-Plus Group.

This is in addition to the capacity necessary to provide services to its existing customers hosted on Telefonica Deutschland's or E-Plus' networks.

On Frankfurt's Xetra, Drillisch shares are currently up 0.52 euros or 1.76 percent to 30.10 euros.