KPN snaps up majority stake in Ortel Mobile

5 Mar 2008

KPN has announced it has agreed to take a majority stake in Ortel Mobile, an MVNO selling pre-paid mobile telephone services in the Netherlands, Germany and Belgium. According to KPN, Ortel doubled year-on-year sales in 2007 to EUR85 million (USD129 million), finishing the year with 935,000 customers across the three countries in which it operates. Neither the financial value nor the exact size of the stake acquired has been disclosed. The transaction is subject to approval from the Dutch and German competition authorities.

Netherlands, KPN