KPN Buys Rest of Ortel

Has entered into an agreement to acquire the remaining minority stake of 35% in Ortel Mobile from its founders

January 22, 2010

1 Min Read

DEN HAAG -- KPN announces that it has entered into an agreement to acquire the remaining minority stake of 35% in Ortel Mobile from its founders. KPN already owns 65% following the acquisition in March 2008.

KPN will continue Ortel Mobile’s successful strategy of providing prepaid telecommunication services in the Netherlands, Germany and Belgium, particularly focusing on customers in the cultural segments. KPN believes that full ownership will assist Ortel Mobile in reaching its operational and strategic objectives. Furthermore it will accelerate the expansion of Ortel Mobile to new markets.

Celal Oruç, the current CEO and President of Ortel Mobile, will become Honorary Chairman and remains involved with Ortel Mobile.

KPN Telecom NV (NYSE: KPN)

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