Mobistar Completes KPN Belgium Buy

Mobistar´s acquisition of KPN Belgium Business completed after Competition Council gives green light

April 3, 2010

1 Min Read

BRUSSELS -- In November 2009 Mobistar announced the agreement toacquire KPN Belgium Business n.v. (b2b and carrier activities in Belgium). Thetransaction was completed on 31 March 2010 after the operator received theCompetition Council´s approval for the acquisition on 25 March 2010. The legalentity is being renamed Mobistar Enterprise Services n.v. Mobistar thusreconfirms its strategy of continuing to invest in the professional market so as to further strengthen its position as a convergent player.

The purchase price for 100 % of the shares of KPN Belgium Business n.v. amounts to 65 million euros (on a debt- and cash-free basis) and this amount was paid on 31 March 2010. The legal entity is being renamed Mobistar Enterprise Servicesn.v. and the full range of telecommunication solutions for the professionalmarket of Mobistar and Mobistar Enterprise Services n.v. will bear the strongMobistar brand name.

The closing took place after the Competition Council approved the transaction on condition that Mobistar, in addition to its own wholesale services, retain the ADSL wholesale offer of Mobistar Enterprise Services n.v. for 18 months under the same conditions as before the acquisition.

The consolidation is being implemented as of 1 April 2010, and already this year the transaction will have a positive impact on Mobistar´s revenues and Ebitda.

Mobistar SA

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like