Versatel Telecom International reached agreement with Free Label B.V. and Radio 538 Internet B.V., the minority shareholders of its subsidiary Zon Nederland N.V., the Dutch Internet Service Provider, regarding the buy-out of their combined stake in Zon of approximately 10%. Versatel now has 100% control over Zon. The buy-out was financed by the issuance of 4,330,000 Versatel shares. Zon is part of the core residential strategy of the Versatel Group and Versatel considers it a strategic asset to have complete control over Zon.
