Westphalian provider augments company strategy
EWE acquires majority stake in telecommunications provider Teleos
Oldenburg, 22nd June 2006. The EWE AG based in Oldenburg has acquired 51 per cent of the company shares of the telecommunications provider Teleos GmbH & Co. KG (Teleos) based in Herford. EWE is acquiring the shares of the E.ON Westfalen Weser AG. The purchase is yet to be approved by the anti-trust authority. E.ON Westfalen Weser AG is to continue to hold a 49 per cent stake in Teleos. The contractual partners have agreed not to reveal the purchase price.
“Teleos has established a sound position for itself on the telecommunications market. The product range meets the services of the telecommunications branch in the EWE concern”, said EWE Chairman Heiko Harms commenting on the acquisition of the shares.
Additionally, Teleos filled the geographic gap between the EWE telecommunication companies in Osnabrück and Hanover. “We and E.ON Westfalen Weser plan to further strengthen Teleos and continue to provide favourably priced and attractive products for the fixed line, internet and mobile telecommunications sector both for private and business customers, ” stated Harms.
Dr. Rainer Brockmann, Chairman of E.ON Westfalen Weser welcomed the conclusion of the contract and described EWE as a “competent and successful partner”. “The EWE concern has successfully expanded its telecommunications interests in the past few years. The concern subsidiary EWE TEL is one of the largest regional telecommunications providers”, said Brockmann.
Teleos Managing Director Norbert Scholz described EWE as a “dream partner”. The product portfolio and the customer structure of both companies dovetailed perfectly and both companies spoke the same strategic language, explained Scholz.
Teleos was established in July 1997. The company employs a workforce of 130 and currently provides around 43 000 customers in the private and business customer sector. The company posted turnover of over 40 million euros in 2005.
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