KPN denies report of international M&A, says focused on home market

Thursday 7 December 2017 | 17:21 CET | News

Dutch operator KPN has rejected speculation that it may pursue an international merger or acquisition under its new CEO. In a statement, the company said its M&A strategy "is focused on small in-country acquisitions and it has no plans to make international acquisitions". 

The company issued a statement following a Bloomberg report that suggested KPN's incoming CEO, Maximo Ibarra could pursue a deal with operators such as Denmark's TDC, Belgium's Proximus of Finland-based Elisa. Ibarra, the former CEO of Italian operator Wind, will replace Eelco Blok, who will step down in April 2018 after eight years heading KPN.

In recent years, KPN has withdrawn from its activities abroad in order to focus on its home market, the Netherlands. In 2015, it sold its Belgian mobile operation to Telenet and in 2014 it sold German mobile operator E-Plus to Telefonica. KPN also resisted a hostile takeover by America Movil in 2013. 

Since divesting its foreign activities, KPN has only made small takeovers on the Dutch market, mainly to expand its position in the business and ICT segments. KPN said it "is in a strong position today and the supervisory board fully supports the current strategic direction of KPN to further strengthen its position in the Dutch market". 

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Categories: General
Companies: America Movil / Elisa / E-Plus / KPN / Proximus / TDC / Telefonica / Telenet
Countries: Netherlands
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