KPN sells part of its Dutch mobile towers portfolio

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Den Haag, 9-12-11



KPN has agreed to sell part of its Dutch mobile towers portfolio to a subsidiary of Shere Group Limited, an experienced mobile tower owner in the UK, in two tranches. The sale of the first tranche will result in cash proceeds of EUR 78 million and a book gain of EUR 66 million in the fourth quarter of 2011. The sale of the second tranche will be completed in the first quarter of 2012, with expected cash proceeds of EUR 37 million and a book gain of EUR 30 million.

In The Netherlands, mobile towers are generally used by multiple mobile operators.
KPN does not consider the exploitation of a large part of its Dutch mobile towers to be a core business. Consequently, KPN previously disposed of mobile towers in 2008, 2009 and 2010. Following the sale of the mobile towers, KPN leases back the space it requires for its network equipment.