4 Mar 2015
Dutch telecoms giant KPN is set to revive the sale of its wholly-owned Belgian mobile unit BASE, according to Bloomberg, citing sources with knowledge of the matter. The operator is said to be working with US-based financial services firm JPMorgan Chase on the transaction, and is seeking offers in the region of EUR1 billion (USD1.1 billion) from strategic bidders and buyout firms. KPN itself has yet to comment on the reports.
According to TeleGeography’s GlobalComms Database, KPN abandoned its attempt to sell the subsidiary in 2012 due to ‘disappointing’ offers; at the time BASE was valued at over EUR1.8 billion. Meanwhile, in May 2014 Luxembourg-based Altice Group was linked with a move for the Belgian cellco. Altice, which already owns local cableco Numericable, has embarked on something of an acquisition spree across Europe in recent years, and is now expected to formalise its interest in BASE.