Dutch telco KPN has sold MVNO Ortel Mobile Switzerland to Swiss company Treternity for an undisclosed amount.
Announcing the sale today, KPN said it fits within the company’s strategy to align Ortel Mobile’s focus with its own core markets. KPN is…
Dutch telco KPN has sold MVNO Ortel Mobile Switzerland to Swiss company Treternity for an undisclosed amount.
Announcing the sale today, KPN said it fits within the company’s strategy to align Ortel Mobile’s focus with its own core markets. KPN is also assessing options for its other Ortel Mobile operations and is said to be close to disposing its Simyo MVNO in Spain, valued at around €30m, to Orange.
Founded in 2005, Ortel Mobile has offices in the Netherlands, Belgium, Germany, France and Spain as well as Switzerland. On its website, the MVNO says it aims to enter other European markets soon. The Swiss unit uses France Telecom’s Orange network.
KPN’s strategy includes the divestment of non-core assets in order to streamline its business portfolio. The company has made a number of disposals recently, mostly of mobile towers. At the end of October, the company sold towers in the Netherlands to Indonesian towerco Protelindo for €75m (US$97m) and, last month, it sold 2,000 towers belonging to German unit E-Plus to American Tower for €393m (US$501m).
KPN reported revenues and other income of €3.05bn at the end of Q3, down 6.5% year-on-year. EBITDA, excluding restructuring costs, was down 12% to €1.18bn. Net debt dropped from €12.8bn at the end of Q£ 2011 to €12.4bn.
The company reported a revenue decline of 36% year-on-year for its mobile operations outside the Netherlands, Belgium and Germany.
