Telecom Italia Buys AOL Germany
As part of an ongoing effort to distance itself from the ISP business both domestically and in Europe, AOL parent Time Warner said Monday it is selling AOL Germany to Telecom Italia for about $870 million in cash.
AOL Germany counts 1.1 million broadband subscribers and another 1.3 million on dial-up. AOL will continue to have a presence in the country, however, providing its Web based services and content to Telecom Italia's 3.2 million customers. AOL is additionally looking to sell its ISP businesses in France and the United Kingdom.