KPN offloads Belgian B2B, carrier assets
Dutch carrier KPN has entered into an agreement to sell its Belgian B2B and carrier business to local rival Mobistar for €65m.
Dutch operator group KPN has seen its quarterly net profit fall by 32 per cent year on year, and has blamed increased competition in the German market as a key factor for its poor performance. The operator recorded net profit of €250m for 3Q12, compared with the €368m it made in 3Q11. This was despite revenue falling by a comparatively modest 6.5 per cent year on year, from €3,256m to €3,044m.
Dutch incumbent KPN has called off the sale of its Belgian subsidiary Base after failing to receive a high enough offer. The firm said Wednesday morning that the sale was discontinued because “current difficult market conditions are reflected in unsatisfactory non-binding offers for Base.” KPN announced plans to sell the operation in June. It is also looking to divest German operation E-Plus.
Dutch carrier KPN has entered into an agreement to sell its Belgian B2B and carrier business to local rival Mobistar for €65m.
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