6 Jan 2014
Dutch telecoms giant KPN has exercised an option to take full control of its fibre-to-the-home (FTTH) joint venture Reggefiber, it has announced. In a statement released late last week, the Dutch incumbent confirmed that it will acquire an additional 9% stake in the company for between EUR116 million and EUR161 million (USD157.6 million-USD218.7 million), thereby increasing its holding to 60%. Going forward, following approval by the Dutch Competition Authority (ACM), Reggefiber will be consolidated in the financial statements of KPN.
As previously reported by TeleGeography’s CommsUpdate, in November 2012 KPN paid EUR99 million to buy an additional 10% stake in Reggefiber, increasing its stake to 51%. The wholesale FTTH provider, which was formed in May 2008, currently connects around 1.6 million households with its fibre infrastructure.