Germany

Telefonica acquires HanseNet for €900 million

Telefónica SA of Madrid has agreed to buy HanseNet Telekommunikation, Germany's fourth-largest broadband company from Telecom Italia SpA for €900 million in all-cash deal.

The buyout will make Telefónica, which also owns O2 Germany, the number three player in the German market. The deal is expected to close in early 2010.

Hamburg-based HanseNet operates under the brand name Alice and presently has about 2.2 million broadband subscribers in the country. Telefónica currently holds only 253,000 broadband home subscribers.

Synlab GmbH buys United Medical Lab Riyadh

Germany based Laboratory services provider Synlab GmbH, has bought Saudi-owned United Medical Lab Riyadh to form the largest private laboratory in the region.

Trucks to be built by UAE's Aabar, German Firms

Monday saw United Arab Emirates' Aabar Investments PJSC saying that it has signed a deal with Algeria and five German companies, including MAN Ferrostaal AG and Daimler AG, to make all-terrain vehicles and trucks in North Africa.

MAN Ferrostaal said in a separate statement that finally the agreement will produce a joint-venture company between Aabar and MAN Ferrostaal to manage the plants in Algeria.

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