KPN secures new credit for possible German buyout

16 Apr 2003

Dutch incumbent KPN says it has agreed terms for a new less prohibitive EUR1.5 billion credit facility, in a move which could pave the way for the possible takeover of O2 Germany. KPN is looking to bolster its German operation E-Plus in what is seen as a key European market. The revised credit facility replaces its previous EUR1.75 billion credit line which restricted its ability to spend money to acquire fresh assets.