Deutsche Telekom concludes an agreement with Télédiffusion de France on the acquisition of T-Systems Media&Broadcast GmbHThursday, November 8th, 2007
Deutsche Telekom AG has concluded an agreement with the French TDF group on the sale of T-Systems Media&Broadcast GmbH. Both partners intend to complete the transaction in the first quarter of 2008. The transaction has an enterprise value of EUR 0.85 billion.
The sale of Media&Broadcast is part of the “Focus, fix and grow” strategy presented to the public by the Deutsche Telekom Board of Management on March 1, 2007. Noncurrent assets with a total enterprise value of EUR 2.1 billion have been disposed of to date in the program aimed at focusing Deutsche Telekom’s financial means.
T-Systems Media&Broadcast GmbH is a wholly-owned subsidiary of T-Systems Business Services GmbH. Media&Broadcast plans, creates, markets and operÂates specific services for customers in the broadcasting and media industries. Its portfolio comprises terrestrial broadcasting equipment and connection netÂworks, as well as satellite transmission services. In addition, with around 1,200 employees, Media&Broadcast offers broadcasting-related communication soluÂtions for special business customers.
The acquisition is subject to approval by the responsible anti-trust authorities.
[T-Systems Media&Broadcast GmbH was later re-named MEDIA BROADCAST GmbH]