Royal KPN to Buy Telfort for $1.18B
An AP newswire article, via Yahoo! News, reports that:
Dutch telecoms company Royal KPN NV said Tuesday it acquired mobile phone competitor Telfort for 980 million euros ($1.18 billion).
The former Dutch telephone monopolist said in a statement the acquisition price may be raised by 140 million euros ($169 million), based on Telfort's performance. KPN will also assume debt of more than 900 million ($1.09 billion), it said.
Telfort has 2.4 million customers which will boost KPN's market share in the Netherlands. KPN's stock rose 2.2 percent to 6.60 euros ($7.99) in early European trading.
The transaction must still be approved by market regulators.
posted by Fergie @ 6/28/2005 09:15:00 AM
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