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KPN buys rest of Reggefiber for EUR 610 million
2014-11-18 08:47:00| Telecompaper Headlines
(Telecompaper) KPN has agreed to acquire the remaining 40 percent in its FTTH joint venture Reggefiber for EUR 610 million. At the end of October, KPN received regulatory clearance to raise its stake in Reggefiber to 60 percent. The additional 9 percent bought then from Reggeborgh cost EUR 161 million and gave KPN management control of the venture. It will now buy the rest of Reggeborgh's stake, as well as pay off EUR 500 million in external loans at Reggefiber. KPN said the acquisition is part of the company's plans to devote the proceeds from selling E-Plus in Germany to strengthening the operator's position in the Netherlands. KPN said it will continue with its hybrid network strategy, upgrading its copper network as well as rolling out FTTH. Reggefiber's network passed 1.893 million homes at the end of September, an increase of 205,000 since the start of this year. The number of homes activated reached 623,000.
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Category:Telecommunications
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