Immediately after his coronation, he hastened to his newly won territories, accompanied by the principal civil and ecclesiastical dignitaries of Denmark, and was solemnly acknowledged lord of Northalbingia (the district lying between the Eider and the Elbe) at Lubeck, Otto IV., then in difficulties, voluntarily relinquishing all German territory north of the Elbe to Valdemar, who in return recognized Otto as German emperor.
In 923 he had bought a truce for ten years with the Hungarians, by a promise of tribute, but on its expiration he gained a great victory over these formidable foes in March 933 The Danes were defeated, and territory as far as the Eider secured for Germany; and the king sought further to extend his influence by entering into relations with the kings of England, France and Burgundy.
Thus the emperor's dominions now stretched from the Eider to the Ebro, and from the Atlantic to the Elbe, the Saale and the Raab, and they also included the greater part of Italy; while even beyond these bounds he exercised an acknowledged but shadowy authority.
The earlier Saxony was the district lying between the Elbe and the Saale on the east, the Eider on the north and the Rhine on the west, with a fluctuating boundary on the south.
North Albingia, as the district between the Eider and the Elbe was then called, now became Danish territory.