Dutch incumbent KPN has announced the acquisition of south Netherlands-based data services provider Atlantic Telecom for an undisclosed sum.
Although the deal’s value was significant enough to announce the move, it did not exceed the E30m limit that…
Dutch incumbent KPN has announced the acquisition of south Netherlands-based data services provider Atlantic Telecom for an undisclosed sum.
Although the deal’s value was significant enough to announce the move, it did not exceed the E30m limit that would require regulatory approval, a source close to the acquisition told TelecomFinance.
For this reason, it is understood that KPN was advised by its own M&A team, and used its own cash resources to finance the acquisition.
Atlantic has approximately 10,000 customers and promotes itself as a low-cost provider for SMEs. It does not have its own network, and launched an MVNO for the SME community in September with local mobile operator T-Mobile Netherlands.
According to a KPN spokesman, Atlantic will help “strengthen the group’s position in the in the Dutch SME market”.
It follows KPN’s acquisition on 9 September of Yes Telecom, another Dutch SME MVNO provider, for an undisclosed sum.
Both Atlantic and Yes will continue to operate under their own brands.
KPN on 13 December announced the completion of its E1bn share repurchase programme, which is part of plans to increase its dividend offering next year.
The group is expected to disclose more details about its dividend plans on 26 January 2011, when 4Q financial results are announced.
