KPN confirms talks for possible Versatel (Tele2 Belgium) takeover, denies it is after Bouygues

14 Aug 2007

Dutch incumbent KPN has confirmed it has held talks with Versatel (Tele2 Belgium) about a proposed EUR100 million (USD136.6 million) takeover bid for the company. In a press release KPN said no deal has yet been agreed but it is speeding up its EUR1 billion share buyback in order to increase its presence in Belgium and take advantage of Tele2/Versatel’s strong footprint in Wallonia. However, KPN chief executive Ad Scheepbouwer also took the opportunity to scotch recent press rumours suggesting his firm is interested in making a pre-emptive bid for French cellco Bouygues Telecom.

Belgium, KPN, KPN Belgium (formerly Tele2/Versatel)