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Mobistar cleared to buy KPN Belgium Business
Belgium’s Mobistar has received the competition authority’s clearance for the acquisition of KPN Belgium Business, the Dutch company’s B2B and carrier activities in Belgium.
The transaction, worth E65m, covers the fibre network, the takeover of business…
Belgium’s Mobistar has received the competition authority’s clearance for the acquisition of KPN Belgium Business, the Dutch company’s B2B and carrier activities in Belgium.
The transaction, worth E65m, covers the fibre network, the takeover of business customers and the wholesale activities from former owner Versatel.
KPN was advised by Lazard.
When KPN announced the transaction last November, it said that it expected to generate about E50m pro forma revenues and E10m EBITDA in 2009 from the sale.
The Dutch company also said that it decided to withdraw from the Belgian B2B market because of the highly unfavourable competitive environment.
Mobistar, a subsidiary of France Telecom, is Belgium’s second largest mobile operator.
