Koninklijke KPN NV
04 October 2005
KPN completes Telfort takeover
KPN has today become the sole owner of Dutch mobile telecom company Telfort.
Having reached agreement in principle regarding the acquisition on the 28th of
June, the transaction was completed today with the transfer of all shares in
Telfort to KPN. The takeover sum is EUR 980 million.
The takeover fits in with KPN's strategy of using multiple brands to serve
specific segments of the mobile telecom market, KPN will thus continue to use
the Telfort brand. The current board of management at Telfort, which consists of
Ton aan de Stegge (CEO), Robert van Maasakker (CFO) and Henk Buitenhuis (COO),
will step down. The new Managing Director will be Stephanie Harmsen, who held
the post of Director Customer Operations. Huib Dekker, previously Director
Finance & Control, will become Financial Director.
Ad Scheepbouwer, CEO of KPN: 'Telfort reinforces our position in the domestic
market. Telfort is an important addition to KPN's mobile portfolio, which also
includes Hi and most recently Simyo. Telfort has a strong position in segments
where up until now KPN has not been so well represented. In that respect we hope
that we will be able to learn from each others strong points.'
Departing CEO Ton aan de Stegge of Telfort: 'This takeover by KPN offers Telfort
the best prospect for growth in the future. KPN gives US the freedom to do what
we are good at During the last two years we have grown successfully by operating
on the market in an independent, efficient and enterprising manner. I am fully
confident that Telfort will be able to continue its success story under the new
KPN offers telecommunication services to both consumers and businesses. The core
activities are telephony and data services through KPN's fixed network in the
Netherlands, mobile telecom services in Germany, the Netherlands and Belgium and
data services in Western Europe. KPN is market leader in the major segments of
the Dutch telecom market and is actively growing market share in the new IP and
DSL markets. Through E-Plus in Germany and BASE in Belgium, KPN holds the number
three position in the mobile markets in these countries.
As of June 30, 2005, KPN served 7.2 million fixed-line subscribers and 2.1
million Internet customers in the Netherlands as well as 18 million mobile
customers in Germany, the Netherlands and Belgium. KPN employed 29.546
individuals as of the same date.
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Telfort is a profitable provider of mobile telecommunications services to both
the consumer and business markets in the Netherlands, Telfort offers high
quality products and services at affordable prices. Besides offering a modern
mobile network, Telfort sets high store by the service it offers its 2.417
million customers. Telfort is a vibrant organisation, able to quickly evolve
with the demands of the market. The Summer of 2005 saw Telfort become the first
operator in the Netherlands with country-wide mobile broadband network coverage.
Telfort became a subsidiary of KPN on October 4th, 2005.
Note to editors (not for publication)
For more information contact KPN Press Office at +31 70 4466300.
Note to investors and analysts not for publication)
For more information contact KPN Investor Relations at +31 70 4460986.
This information is provided by RNS
The company news service from the London Stock Exchange