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Mobistar to buy KPN's Belgian B2B, carrier activities
(M&A Navigator Via Acquire Media NewsEdge) Belgian mobile operator Mobistar (EBR:MOBB) said yesterday it had agreed to buy the Belgian business-to-business (B2B) and carrier activities of Dutch telecomms group KPN (AMS:KPN) for EUR65m (USD98.1m) on a cash and debt-free basis.
The agreement covers KPN Belgium's fibre network, business customers and wholesale activities.
KPN has decided to stop investing in the Belgian B2B market given the highly unfavourable competitive environment.
The business involved is expected to generate this year a revenue of some EUR50m, on an operating profit of about EUR10m.
KPN will remain active on the Belgian market with mobile and fixed phone services for consumers and small-and-medium-sized enterprises.
The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2010.
Country: Belgium
Sector: Telecommunications
Target: Royal KPN's Business-to-business and carrier activities
Buyer: Mobistar SA
Vendor: Royal KPN NV
Deal size in USD: 98.1m
Type: Divestment
Financing: Cash
Status: Agreed
((Comments on this story may be sent to tww.feedback@m2.com))
(c) 2009 M2 COMMUNICATIONS
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