KPN may devote EUR 1 bln to debt reduction - CEO

Friday 6 February 2015 | 10:56 CET | News
KPN may reduce its debt by around EUR 1 billion in June, CEO Eelco Blok said in an interview with De Telegraaf. The amount is what is expected to be left over from the EUR 5 billion received last year from Telefonica for the sale of German mobile operator E-Plus. KPN has already used EUR 2 billion for debt reduction, and its debt fell from EUR 13.4 billion to EUR 9.6 billion in 2014. Part of the cash was used for acquiring FTTH operator Reggefiber, paying dividends and suppliers, and meeting pension obligations. Blok said the remaining EUR 1 billion could go to further debt reduction.

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Categories: General
Companies: E-Plus / KPN / O2 / Reggefiber
Countries: Netherlands
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