[WATCH VIDEO] German telco Deutsche Telekom will give its Austrian subsidiary T-Mobile Austria a new name following the acquisition of UPC Austria.
The new brand “will appear under the umbrella of the ‘T’ in spring 2019,” T-Mobile Austria CEO Andreas Bierwirth said at a press conference in Vienna.
With the recently concluded acquisition of Austria’s largest cable operator for €1.9 billion, mobile network operator T-Mobile Austria secures a foothold in the fixed-network market. The move enables the company to offer its customers fixed-line and mobile telephony, broadband internet and TV from a single source, intensifying competition with market leader A1 Telekom Austria.
The incorporation of the former Liberty Global subsidiary increases T-Mobile Austria’s annual revenue to €1.25 billion and its staff to 2,524 employees. “This has been Deutsche Telekom’s most expensive cash investment in the past 10 to 15 years,” stressed Bierwirth, adding that all other acquisitions made by the German parent company had been undertaken by an exchange of shares.
Both brands are to be continued until the introduction of the new, uniform name. The employees of UPC will be taken over under existing contracts. No staff reductions are being considered, according to Bierwirth.