AOL France sold to Neuf Cegetel

Time Warner is rapidly getting out of the European market as they have now sold AOL France’s Internet access business to Neuf Cegetel.

Neuf Cegetel is a telecommunications network operator and the deal is said to be worth around $365 million in cash.

As per the deal signed between the two companies, Neuf Cegetel will acquire AOL’s Internet access business in France. They would get around 500,000 broadband customers as a result.

The company is acquiring AOL France’s ASME operation, which manages AOL France’s customer service operations.

AOL is increasingly getting out of the ISP business to concentrate on their online services to increase revenues from online advertising.

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