KPN Says It Has Suitors for Belgian Unit BASE

AMSTERDAM--Dutch telecom firm Royal KPN NV (KPN.AE) said Thursday that several parties have shown an interest in acquiring its Belgian mobile-phone business, in what could be the latest consolidation move in Europe's telecommunications industry.

KPN said it is exploring "all of its options" for BASE, its Brussels-based subsidiary that has a rumored price tag of 1 billion euros ($1.1 billion). It didn't elaborate.

The statement followed reports in Belgian media that local cable operators Telenet Group Holding NV and Voo were preparing a joint bid for the business. Telenet declined to comment, while Voo couldn't immediately be reached for comment.

A deal would be the latest in a series of mergers in Europe's fragmented telecom sector and could spur further consolidation in Belgium as well as the Netherlands, analysts said.

KPN, which has sold most of its international activities in recent years, could use the proceeds for acquisitions at home, but may also become a more appealing takeover candidate itself, said ING analyst Emmanuel Carlier.

KPN in 2013 rebuffed a takeover attempt from Mexico's America Movil SAB, which still owns a stake of more than 20% in the company.

KPN tried to sell BASE in 2012 but cancelled the plan after receiving disappointing bids.

Write to Maarten van Tartwijk at [e-mail]

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