Monday, 16 February 2009

Freenet predicts synergies worth USD 273 Mln from Debitel merger – Germany

According to Joachim Preisig, Chief Operations and Integrations Officer of Freenet, the company predicts synergies amounting to EUR 212 million (USD 272.72 million) in 2011 from its merger with Debitel. Thereafter he predicts synergies of EUR 100 million (USD 128.64 million) annually. Freenet is also planning to rebrand all of its stores under the Mobilcom Debitel brand.

Freenet became Germany’s third largest mobile operator after its acquisition of Debitel in July 2008, with a subscriber base of 19.9 million at the end of the third quarter of 2008, up from 5.9 million in the previous quarter.