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KKPNY Royal KPN NV (PK)

3.67
-0.02 (-0.54%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Royal KPN NV (PK) USOTC:KKPNY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.02 -0.54% 3.67 3.65 3.72 3.7129 3.67 3.69 641,791 21:10:19

KPN sells BASE to Telenet for $1.4 Billion

20/04/2015 8:03am

Dow Jones News


Royal KPN NV (PK) (USOTC:KKPNY)
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Royal KPN NV said Monday it is selling BASE Company to Telenet Group Holding NV for EUR1.33 billion ($1.42 billion) in cash, allowing it to fully focus on its integrated access strategy in the Netherlands.

The Dutch telecom firm said it would use the money raised from the sale to create maximum value for shareholders, without giving any further detail. It said a further announcement will be made on completion of the transaction.

"Our continued good progress is expected to result in a stabilized adjusted [earnings before interest, taxes, depreciation and amortization] Ebitda by end-2015, a growing free cash flow and a growing dividend," Chief Executive Eelco Blok said.

BASE Company is a mobile business with 3.3 million customers and a service revenue market share of 21% at the end of 2014.

Earlier this month KPN said it is exploring "all of its options" for BASE, its Brussels-based subsidiary.

The statement followed reports in Belgian media that local cable operators Telenet and Voo were preparing a joint bid for the business.

Write to Ian Walker at ian.walker@wsj.com

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