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Versatel Takes Over Fibre Network Of Telefonica - Quick Facts

Versatel, a telecommunication company, Monday said it took over the fibre network of Telefonica(TDE.L,TEF) in the city of Hamburg. Through this deal, the companies enforce their existing cooperation for fixed and mobile services. This deal is expected to expand Versatel's fibre network. Along with the deal, Versatel said it will also buy a new build data processing service center, which would create possibility for more comprehensive housing services.

Telefonica, in return for this deal is expected to provide long-term access to the Versatel fibre network. The transaction should be closed by the end of 2013, Versatel said in a statement.

Last year, Versatel has already strengthened its footprint by taking over KielNET. Versatel is represented in the 33 German cities with own infrastructure.

"After Berlin, Versatel now also has a comparable comprehensive own network infrastructure in the second biggest German city," Johannes Pruchnow, chairman of the Versatel management said.

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