- Deutsche Telekom (OTCQX:DTEGY) confirms an agreement to buy Liberty Global's (LBTYA) Austrian cable business for €1.9B ($2.2B) including debt, as it adds broadband services to countries where it only offers mobile operations.
- Deutsche Telekom hopes the deal will enable it to challenge the dominance of Telekom Austria, which has ~1.5M fixed-line broadband subscribers vs. ~500K for Liberty Global's UPC Austria.
- For Liberty, the sale is seen as part of efforts to reorganize its operations if it resumes merger negotiations with Vodafone (VOD).