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NewsPoster Mar 1, 2013 08:14 AM
Sky acquires 500,000 broadband customers from Telefonica UK
<a href="" rel='nofollow'>BskyB</a> is acquiring Telefonica UK's landline and home broadband services. The deal, claimed to be worth around &pound;200 million ($307 million) will see Sky become the second largest Internet service provider in the country, thanks to the addition of an extra 500,000 customers from Telefonica's Internet services, <a href="" rel='nofollow'>O2</a> and <a href="" rel='nofollow'>BE</a>. <br />
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Initially, Sky will be paying Telefonica &pound;180 million ($273 million) for the broadband and fixed-line services, with another &pound;20 million ($30 million) due upon completion. The 500,000 Telefonica customers will then be integrated with the existing 4.2 million Sky broadband and 4 million Sky phone customers, 3.6 million of which also count as triple-play customers in using Sky's phone, broadband and satellite TV services.

In a statement Telefonica chief executive Ronan Dunne said that the deal would allow Telefonica to "focus on delivering best-in-class mobile connectivity, including next generation (4G) services." Telefonica spent around &pound;550 million ($843 million) on radio spectrum in UK regulator Ofcom's 4G auction <a href=" pated/" rel='nofollow' target="_self" title="">last month</a>, which will allow O2 to offer high-speed mobile connections in the coming months.

While it still requires approval, Sky estimates that the acquisition will be completed by the end of April.
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