Deutsche Telekom's supervisory board today approved its purchase of French telecommunications company Siris SAS for $US714 million.
The purchase of France's second-largest fixed line carrier is a further step in Deutsche Telekom's strategy to expand outside its own borders, Deutsche Telekom Chairman Ron Sommer said in a statement.
Siris offers voice, data and IP (Internet Protocol) services, and has a 2000 kilometre long fiber-optic network that connects France's major cities, Deutsche Telekom said. By the end of 2000, that network will be 5000 kilometers in length.
Deutsche Telekom is purchasing Siris from Unisource, the now defunct alliance between Koninklijke of the Netherlands, Telia of Sweden and Swisscom. No longer part of the central strategy of its shareholders, Unisource is in the process of selling off its assets.