Deutsche Telekom has concluded a deal to buy Dutch mobile phone and broadband Internet operator Orange Netherlands from France Telecom for 1.3 billion euros ($1.8 billion), an Associated Press report said.
The Associated Press report said Deutsche Telekom first announced the deal in June, but it did not give the purchase price then.
It said that its T-Mobile Netherlands unit has concluded a contract for the acquisition and that it expects the deal to close on October 1.
Deutsche Telekom expects the combination to result in savings of about $1.4 billion, over the next few years, the report said.
About half of those savings would be generated in the first six years, 'in particular from network integration and reduced marketing expenses,' the German company said.
The report further said the European Commission, which cleared the deal in August, has said the merger would make T-Mobile the second-largest mobile phone operator in terms of subscribers in the Dutch market and the third-largest operator in terms of revenue.