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Which 3 Stocks Would Warren Buffett Buy?Telefonica closes agreement with Deutsche Telekom
12-01-2012 10:49
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Telefonica's German affiliate closed an agreement with Deutsche Telekom to use parts of its network and to connect mobile phone masts to its core network in order to increase data transmission rates in the coming years.
Thanks to this agreement, Telefonica will be able to increase the speed and capacity of its mobile network in Germany without the need for large investments.
The Spanish telecoms giant would have had to develop its own fixed line infrastructure in order to face the growth of mobile data transmission, said a company spokesperson.
The financial terms of the agreement were not revealed.
Shares of Telefonica were up 1.12% at €13.54 by 11:49 in Madrid.
SB
Thanks to this agreement, Telefonica will be able to increase the speed and capacity of its mobile network in Germany without the need for large investments.
The Spanish telecoms giant would have had to develop its own fixed line infrastructure in order to face the growth of mobile data transmission, said a company spokesperson.
The financial terms of the agreement were not revealed.
Shares of Telefonica were up 1.12% at €13.54 by 11:49 in Madrid.
SB
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