KPN to purchase Demon for EUR69 million

2 Jun 2006

UK-based alternative operator Thus Group has agreed to sell its Dutch internet service provider (ISP) Demon Netherlands to KPN for EUR69 million. Thus says it is selling the unit in order to focus on its domestic business; it plans to use the proceeds to pay back debt. The high price of the deal is in part due to Demon’s high proportion of corporate customers. It is understood that KPN plans to transfer Demon’s 70,000 residential and corporate DSL customers to its ISP XS4ALL.

Netherlands, KPN