KPN bags Tele2/Versatel Belgium

20 Aug 2007

Swedish telecoms operator Tele2 has announced that it has sold its subsidiary Tele2/Versatel Belgium to Dutch PTO KPN for approximately SEK890 million (USD129 million) on a cash and debt free basis. The deal is subject to approval by relevant authorities. Tele2 said the transaction will have a negative one-off effect of SEK70-SEK90 million on the group. At the end of June, Tele2/Versatel’s Belgian operations had 200,000 fixed telephony customers and 125,000 broadband customers. In a statement on the sale KPN said that it will expand its BASE brand, used by its Belgian wireless arm, and increase revenues through the cross-selling of products.

Belgium, KPN