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freenet AG

Germany · Xetra: FNTN.DE · Market cap: $3.2B · P/E: 11.9 · P/S: 1.1

freenet sells mobile phone plans, internet and TV services to consumers in Germany, mostly by reselling network access it buys wholesale from big carriers.

freenet is one of Germany's best-known telecom brands, but it doesn't own the mobile network it sells on. Instead it buys access wholesale from the big network operators and packages it into simple plans that people sign up for online or in one of its shops. Think of it as a storefront for German connectivity: someone else lays the pipes, freenet handles the marketing, pricing, billing and customer service.

freenet AG (FNTN.DE) Mobile communications (postpaid contracts and hardware reselling): line art illustration of A phone shop counter with a customer and a staff silhouette
Mobile phone contracts
freenet sells mobile phone contracts and hardware to customers in Germany.

The core of the business is no-contract and contract mobile plans, sold under brands like freenet, klarmobil, mobilcom-debitel and the discount label crash. It also sells TV and internet packages, including waipu.tv, its streaming-TV product that turns an ordinary television into one that streams channels live over the internet. On top of that it runs a business selling phones, accessories and services around those plans. Where the money comes from is worth understanding. Most of freenet's profit is not from your monthly bill itself but from the fees the network operators pay it for each customer it brings in and keeps on their network — a kind of commission for doing the customer-facing work they'd rather not do themselves. That makes it a marketing and customer-relationship machine as much as a telecom company. Competition in German mobile is fierce, with the big carriers and discounters all chasing the same price-sensitive customers, so freenet's edge comes from sharp pricing, well-known brands and low overhead.


Its rivals are the big German carriers and other resellers. The network partners that matter most are Deutsche Telekom, Vodafone and Telefónica, which supply the underlying access. freenet has expanded beyond phones into TV streaming with waipu.tv, betting that consumers will keep paying for bundles of connectivity and entertainment. The company is based in Büdelsdorf, Germany, generates roughly €2.5 billion a year in revenue and is known for paying out a large chunk of its free cash flow to shareholders as dividends rather than spending heavily on network infrastructure it doesn't own.

Saved answer · last researched 12 Nov 2026