Dutch telecommunications operator KPN said it would consider serious bids for its local and foreign assets, including its comparatively well-performing Belgian and German operations.
Speaking at a press conference today on KPN’s 2011 financial…
Dutch telecommunications operator KPN said it would consider serious bids for its local and foreign assets, including its comparatively well-performing Belgian and German operations.
Speaking at a press conference today on KPN’s 2011 financial results, interim CFO Eric Hageman said the company would take an open view on bids for its Belgian and German operations. If there is a positive bid, the company would certainly accept it, the CFO said in reply to questions from journalists, speaking through a translator.
Hageman later said KPN would also be open to selling off assets in the Netherlands, adding that the company hadn’t received any bids as yet.
The company reported disappointing financial results for the business overall and stated it plans to streamline its products, services and operations in 2012. KPN also confirmed at the conference and in an accompanying statement that it has scrapped its share buy-back programme.
“KPN’s business continued to be impacted … by severe regulatory pressure and macroeconomic headwinds, while industry trends had a negative impact on KPN’s overall performance,” the statement read.
At the conference, both Hageman and CEO Eelco Blok stressed the comparatively strong performances of the company’s Belgian and German operations.
According to a Reuters report, Blok dispelled rumours that KPN is in talks with Telefonica about joining forces in Germany. There has been considerable speculation about a potential merger between KPN’s German operation e-plus and Telefonica O2 but the Reuters report stated Blok denied the companies are discussing the matter at present.
