Mobilcom 3G assets sold to KPN

14 May 2003

Troubled German cellco Mobilcom [PNK: MBLCF] has sold its fledgling 3G network to Dutch telco KPN [NYSE:KPN] for EUR20 million. KPN’s German mobile subsidiary E-Plus will take on the network, which includes 3,723 network sites, 930 of which are equipped with 3G technology. It hopes the acquisition will consolidate its position as the country’s third largest wireless operator.