KPN Receives Approval

Dutch competition Authority NMa has approved KPN's acquisition of Tiscali Netherlands

May 24, 2007

1 Min Read

THE HAGUE, The Netherlands -- Today, the Dutch competition Authority NMa has approved KPN’s acquisition of Tiscali Netherlands with no remedies. The takeover will further strengthen KPN’s broadband share in addition to continued organic growth. As a result KPN’s retail broadband share will increase with approximately 4% to 45%.

Further to the operational synergies KPN expects to derive, this transaction will result in a tax asset with a net present value of approximately EUR 25 million.

In September 2006, KPN reached an agreement regarding the acquisition of Tiscali SpA’s Dutch operations for a consideration of EUR 255 million. Following today’s NMa’s approval the transaction is expected to close in June. The relevant works councils have already positively advised on this transaction.

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