KPN stops sale process of BASE in Belgium
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.
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