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KPN may sell Belgian mobile unit Base
17 April 2012
Private equity bidders tipped to be interested in paying estimated €1.8bn for KPN’s Belgian mobile unit, Base
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Base
KPN
Belgium
Orange
private equity
Apax
Netherlands
Dutch operator KPN is reviewing strategic options for Base, its mobile and fixed business in Belgium that may be worth up to €1.8 billion.
Base is likely to attract interest from Apax Partners and other private equity firms, reports Bloomberg, citing unnamed sources.
KPN’s plans are in the initial stages, and it has not decided on a formal auction process so far, but it may send preliminary information to potential buyers in May, said the report.
The Belgian mobile business started in 1999 as KPN Orange, a joint venture with Hutchison which then owned Orange in the UK. After Orange became part of France Telecom, KPN took 100% ownership and rebranded the business. France Telecom also has a mobile business in Belgium, called Mobistar.
KPN said in January 2012 that it was seeking “serious” offers for its foreign and domestic business, and that it would accelerate a restructuring programme to deal with expectations of lower profit and cash flow in 2012.
KPN sold its Simyo MVNO in France to Bouygues Telecom in 2011, and is discussing sale of the Simyo MVNO business in Spain. GTB
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