KPN has permission for sale German branch




The European Commission has given the green light to KPN its German branch E-Plus to sell to a competitor Telefonica. This is the deal of more than eight billion euros after a year finally.

E-Plus The European Commission gives green light under the condition that the provider of Spanish origin in Germany at least, almost a third of its capacity to offer virtual providers to promote competition. In addition, the frequencies will make available if a company wants to be. A provider with its own network

The conditions were necessary by the Commission, since the acquisition, the number of providers with their own network in Germany decreased from four to three. Besides Telefonica and Vodafone are actively originally German T-Mobile on the German market.

After the sale, KPN wants to focus on its core geographies, which is refers to the Netherlands and Belgium. In Belgium KPN subsidiary Base long time was for sale, but some time ago, KPN decided to base off the market pick . There were lots of interest, but the company found the amount offered is too low.

For E-Plus, KPN will of the Spanish provider totaling more than 8.5 billion euros. Of that amount, 3.5 billion shares – KPN receives an interest of more than 20 percent in the Spanish telecommunications – and five billion in cash. The provider will use the amount “to support the strategy” and to pay dividends to shareholders.

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