Nov. 5 (Bloomberg) -- Telefonica SA, Europe’s second- largest phone company, agreed to buy Telecom Italia SpA’s German broadband unit Hansenet Telekommunikation GmbH for 900 million euros ($1.34 billion) to expand in Germany.

Madrid-based Telefonica announced the acquisition in a regulatory filing today. It aims to complete the purchase in the first quarter of 2010, Telefonica said.

Telefonica Chairman Cesar Alierta is resuming acquisitions to add revenue as shrinking economies at home and abroad erode growth. Hansenet gives Telefonica about 2.2 million broadband customers in Europe’s biggest economy.

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Germany is going to be a big market for INFN since they have both Deutsche Telekom and Telefonica as customers.
Byron