Deutsche Telekom AG and Tele2 have reached an agreement under which T-Mobile NL will acquire Tele2’s Dutch business for a combination of cash and shares. The enlarged company will continue to operate as T-Mobile Netherlands and will also use the Tele2 brand in the market.
The companies say the transaction will establish “a true customer champion”. This third converged player in the Dutch market will be able to compete more effectively with the KPN and VodafoneZiggo duopoly due to enhanced scale, combined spectrum resources and significant synergy potential.
The transaction is part of a long-term investment vision of Deutsche Telekom to create a more sustainable operation in the Netherlands to disrupt the Dutch telco industry in favor of the customer.
Søren Abildgaard, CEO of T-Mobile: “I would like to congratulate all our customers and all others who are looking for attractive alternatives. This combination means justice for customers. This duo has been getting away with this game for far too long and there was only one victim, namely the customer! No more. No longer. We will be able to compete against the duopoly much more efficiently and give all Dutch customers a fair choice. We are never going to stop breaking down barriers and will continue to challenge this industry in the years to come.“