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Telecom swallows Click & Buy

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Die Telekom stärkt mit dem Zukauf ihr Internetgeschäft. Quelle: 
ap

Telekom, with the acquisition strengthens its internet business. Source: AP

HB FRANKFURT. The German Telekom is expanding its Internet business with the complete takeover of the online payment processor Click & Buy.

A corresponding contract was signed, the Bonn-based group said on Wednesday. The Telecom previously have held fifth in Click & Buy now and take over the remaining shares by the family of billionaire Finck, another family from Switzerland and the U.S. semiconductor Intel. To purchase a spokesman would not comment.

Internet surfers can pay with Click & Buy online purchases. The ten years ago in Cologne, founded and now London-based payment processor competes with EbaySubsidiary PayPal. After 922 million euros turnover in 2008 exceeded Click & Buy last year, the mark of one billion. Approximately 230 employees serve 16 000 distributors in 31 countries. 2009 were surgically written in the black. One of the biggest clients is Apple with its iTunes music platform.

The recent TelecomT-Pay payment service that is threatening to Off. The business was expected to rise in Click & Buy, "said a TelecomSpokesman.

The former state monopoly had introduced a week ago, its new growth strategy and announced its intention to make up with offers around the Internet, the revenue losses in the phone business. These services – from car networking via data-storage services to ultra-fast Internet connections – to come in the next five years, a total of up to 30 billion euros.