Heuking advises 1&1 Versatel on the acquisition of BT's fiber cable city networks in Germany
A team led by Heuking partners Dr. Jörg Schewe and Markus Lennartz advised 1&1 Versatel on the acquisition of a total of 1,590 kilometers of fiber cable city networks in Munich, Frankfurt, Düsseldorf and Stuttgart from BT Germany.
1&1 Versatel is a telecommunications company specializing in business customers and one of the leading providers of data, Internet and voice services in Germany, which provides fiber cable access to municipalities and business parks on its own account. The company is a wholly owned subsidiary of the listed United Internet AG, whose strong brands include 1&1. 1&1 Versatel operates one of the largest and most powerful fiber cable networks in Germany. The acquisition is in line with the ongoing expansion of 1&1's fiber cable network.
The sale of the city fibre cable networks by BT Germany comes as part of the company's refocusing on global network, cloud and security solutions for multinational companies and international organizations. BT has a strong nationwide presence in Germany and will continue to use the divested infrastructure to provide communications services to its own business customers in Germany after the sale. To this end, BT will rent corresponding capacity from 1&1 Versatel.
Completion of the acquisition is subject to closing conditions, which include in particular the handover of the fiber cable networks.
"We are pleased to have once again demonstrated in the context of this transaction that we can successfully shape complex transactions in the infrastructure sector for our clients with our expertise in the areas of M&A and infrastructure/information technology," describes Dr. Jörg Schewe, Partner at the Hamburg office, on the classification of the transaction. "The particular challenge here was to negotiate and conclude the purchase agreement simultaneously and in a coordinated manner with the operational agreements for the operation of the fiber cable networks, which worked excellently in the cross-location team of colleagues," adds Markus Lennartz, Partner at the Cologne and Frankfurt a.M. offices.
HEUKING has already advised 1&1 Versatel on the conclusion of contracts for the roll-out of the 5G mobile network in Germany with 1&1 Mobilfunk GmbH and Rakuten.
Counsel to 1 & 1 Versatel
Heuking Kühn Lüer Wojtek:
Dr. Jörg Schewe (Lead, M&A / Corporate), Hamburg
Markus Lennartz (Lead, Telecommunications Law / IT), Cologne and Frankfurt a.M.
Dr. Henrik Lay (tax law),
Christoph Prochnau, LL.B. (M&A / Corporate),
Caroline Frohnwieser (M&A / Corporate),
Dr. Eva Kettner, LL.B. (Labor Law), all Hamburg
Christine Grau, LL.M. (Telecommunications Law / IT), Frankfurt a.M.
Manuel Poncza (Telecommunications Law / IT), Cologne
Astrid Wellhöner, LL.M. Eur. (Labor Law), Munich
Inhouse Counsel 1 & 1 Versatel:
Christian Bron (Head of Legal & Integrity)