KPN ends mmO2 takeover rumours

24 Feb 2004

Following its failed takeover bid on Monday, Dutch incumbent KPN has said there are no plans to hold further talks with UK mobile phone operator mmO2, nor does it have any intention of mounting a hostile bid for the company. KPN chief executive Ad Scheenbouwer said of the strategy, ‘The logic of the combination is obvious, but logical things do not always happen’. However, he went on to say that his company had not given up on its desire to expand beyond its current core markets of the Netherlands, Belgium and Germany.

Netherlands, KPN, Telefonica O2 Europe