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Versatel buys Tele2’s Dutch and Belgian operations for EUR200 million

26 Jan 2007

Versatel Telecom International has agreed a EUR200 million (USD259.4 million) deal to purchase Tele2’s businesses in the Netherlands and Belgium, on a cash and debt free basis, and subject to certain adjustments, it said in a statement. To help fund the deal Versatel plans to raise EUR255 million through a rights offering. It has put forward the name of Henrik Ringmarks as new CEO and management board member, who will take over from the outgoing Per Borgklint upon completion of the acquisition, which is expected in May.

Belgium, Netherlands, KPN Belgium (formerly Tele2/Versatel), Tele2, Tele2 (part of T-Mobile/Odido)

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