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KPN will abandon sale Base

KPN gets its Belgian subsidiary BASE out of the shop window again. That is what the telecom company reports itself. The bids for the telecom subsidiary were disappointing.

On June 21, 2012, KPN announced that it had completed the strategic review of BASE and that in July a BASE sales process would start. KPN has also indicated that it will only sell BASE at the right price. 'The non-binding bids do not reflect the strong position and prospects of BASE, ' says KPN.

The decision comes a few days after the Belgian cable operator Telenet announced that it no longer had any interest in BASE. Telenet was the most serious candidate.

KPN would have received several bids at its Belgian subsidiary, Reuters reported a few days ago on the basis of various anonymous sources. De Persgroep, Telenet and private equity parties Blackstone, Providence and Cinven would have made an offer. The purchase price was estimated at 1.4 to 1.7 billion euros.

KPN sees BASE as a 'successful Challenger with strong revenue growth, attractive margins and excellent prospects'.

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