Belgacom CEO rejects KPN takeover talk

12 May 2015

The chief executive of Belgacom Group, which trades in Belgium under the Proximus and Scarlet brands, has said there are no advantages to a possible merger with Dutch counterpart KPN. According to a report from L’Echo, Dominique Leroy has rejected press speculation of a potential tie-up, claiming the costs of such a deal would outweigh the benefits. KPN recently agreed the sale of its Belgian unit BASE Company to local cable operator Telenet, leaving it with only its domestic operations plus a minority stake in Telefonica Deutschland of Germany.

Belgium, Netherlands, KPN, Proximus