Looking to grow its O2 Germany division, Telefonica (NYSE: TEF) is buying German broadband provider Hansenet for the not-inconsiderable €900 million in cash.

Telefonica aims to marry its mobile and fixed-line telephony services with Hansenet’s 2.2 million DSL subscribers, making for an integrated, bundled triple-play.

And Telefonica says the combination will make it the third largest German player, with €5 billion annual revenue.

The combined company will have 15 million mobile and 2.4 million mobile customers.

Release.