KPN Sells Xantic Stake
As per 14 February 2006, KPN and Telstra have transferred their total holdings in Xantic to the Canadian Stratos Global Corporation
February 14, 2006
1 Min Read
THE HAGUE -- As per 14 February 2006, KPN and Telstra have transferred their total holdings in Xantic B.V. to the Canadian Stratos Global Corporation. KPN had a 65% stake in Xantic, which specializes in global mobile satellite communications, with Telstra of Australia owning the remaining 35%. The consideration is USD 191.3 million in cash. Xantic was no longer considered as being part of KPN's core activities. The transaction will result in a book gain for KPN of approximately EUR 65 million.
KPN Telecom NV (NYSE: KPN)
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