Scheepbouwer poo-poos merger talk

12 Sep 2007

Ad Scheepbouwer, CEO of KPN, has been quoted in an interview with Belgian financial daily De Tijd as saying that he see no sense for now in a possible merger with Belgium’s Belgacom. Asked whether he saw any advantage in a merger with Belgacom, he said: ‘No. Because of the Belgian state’s stake and the fact that there are too few synergies. And there is the cultural aspect.’ He added: ‘If you look more closely, Belgacom fits better with France Telecom than with us. France Telecom also has a large stake held by the authorities.’

Belgium, Netherlands, KPN, Proximus