Telenet makes a BASE jump

20 Apr 2015

Liberty Global’s Belgian cableco subsidiary Telenet has agreed a EUR1.33 billion (USD1.43 billion) deal to acquire the smallest of Belgium’s three cellular operators, BASE Company, from its current owner KPN. Telenet will finance the deal via EUR1 billion of new debt, with the remainder from existing cash assets. The cable operator currently provides a mobile virtual network operator (MVNO) service to around 900,000 customers using the network of rival cellco Mobistar, and the acquisition of BASE will give it an additional 2.84 million mobile users. Netherlands-based KPN has now sold off all its international assets apart from a minority stake in Germany’s Telefonica Deutschland which it inherited from its sale of E-Plus to Telefonica last year.

Belgium, BASE Company, KPN, Telenet (incl. BASE)