StockMarketWire.com - Vodafone Group said it had entered into a cable wholesale agreement in Germany with Spain's Telefonica.

The agreement would allow Telefonica Deutschland to offer high-speed broadband services to consumers on Vodafone and Unitymedia's cable network in Germany.

It was subject to the completion of Vodafone's acquisition of Liberty Global's operations in Germany, the Czech Republic, Hungary and Romania, which was conditional on European Commission approval.

The cable wholesale agreement had been signed on a long-term basis, with Telefonica Deutschland committed to achieving a minimum level of customers over the term of the contract.

'Our deal with Liberty Global is transformational in many ways,' chief executive Nick Read said.

'It is a significant step towards a Gigabit society, which will enable consumers & businesses to access the world of content & digital services at high speeds.'

'It also creates a converged national challenger in four important European countries, bringing innovation & greater choice.'

'We are very pleased to announce today our cable wholesale access agreement with Telefonica DE, enabling them to bring faster broadband speeds to their customers and further enhancing infrastructure competition across Germany.'

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