T-Mobile Netherlands would be acquiring Vodafone’s Dutch consumer broadband business.Vodafone was forced to offload Thuis as a concession for its merger with Ziggo, a subsidiary of Liberty Global. Ziggo is the country’s biggest cable provider. The deal was announced in May this year. European Union had given conditional approval for the merger in August after Vodafone agreed to divest some of its assets. The sale of Thuis is part of this agreement.
“This is great news for the Dutch consumer,” said Martin Knauer, acting CEO of T-Mobile Netherlands, in a statement. “Thanks to the extensive knowledge and experience of the Deutsche Telekom group, we will continue to innovate these newly-acquired businesses in the consumer market and offer more choice to the Dutch consumer.”
The financial terms of the deal were not disclosed. The transaction is expected to complete by the end of this year. The deal is conditional on the approval from the Dutch competition watchdog, consultations with the works councils of each company, and the European Commission.
A statement from Vodafone said: “The divestment of Vodafone Thuis was a commitment offered by Vodafone Group Plc and Liberty Global plc to the European Commission as a condition of clearance of the merger of Vodafone Netherlands and Ziggo in the Netherlands.