How much is one branch of AOL worth? Their French division seems to have a worth of about $365 Million, which is what parent company Time Warner is selling it for. French company Neuf Cegetel, a communications giant, will be taking over all of AOL's customers and services in France. This includes their half-million customer base. Initially, the services and AOL France website won't be impacted, and some of the workload will be shared:

Starting in 2007, AOL will provide the content and manage online advertising sales for all of Neuf Cegetel's Internet portals. AOL and Neuf Cegetel will share advertising and other revenue from the sites. The French version of AOL will continue to operate. Together, the two companies' sites attract about 9 million unique visitors per month, according to Time Warner.
As long as the authorities in France don't have objections to the acquisition, the deal will go off next month. Eventually, this may result in the AOL name all but disappearing within their borders.