MUNICH, Germany Deutsche Telekom subsidiary T-Mobile Netherlands has agreed with France TÚlÚcom to take over Orange Netherlands, a subsidiary of the French carrier.
With the move, T-Mobile more than doubles its Dutch customer base from 2.1 million to 4.8 million subscribers. T-Mobile will pay 1.3 billion (about $1.83 billion) for Orange Netherlands and expects synergies of about 1 billion including restructuring costs.
With revenues of 1.1 billion, T-Mobile Netherlands is the third-largest mobile carrier in that country. Orange, with sales of .6 billion, ranks fourth. In addition to its mobile business, Orange Netherlands also runs a broadband fixed line business with about 555.000 customers.
The EU antitrust authorities already have given their nod to the takeover. The transaction is expected to close October 1st, 2007.