Den Haag, 15-8-12
Royal KPN N.V. ("KPN") announces today that it has discontinued the sale process of KPN Group Belgium (“BASE”). Current difficult financial market conditions are reflected in unsatisfactory non-binding offers for BASE.
On 21 June 2012, KPN announced that the strategic review of BASE had been finalized and that a sale process for BASE would start in July. Furthermore, KPN stated that BASE would only be sold for the right price. The non-binding offers did not take the strong position and outlook of BASE into account. BASE has a successful Challenger strategy with strong revenue growth, attractive margins and excellent momentum for continued upside.
KPN remains committed to maintaining a prudent financial framework and creating value for all shareholders.