Report: Telfonica to buy Dutch telecom KPN

Oct 03, 2005

Spain's Telefonica de Espana has reportedly made an offer to acquire Dutch telecom KPN NV for $24 billion in a move to expand its reach in Europe.

The Wall Street Journal reported Sunday night that the two companies were putting together negotiating teams to work out the details; however, neither Telefonica nor KPN had any official comment.

Telefonica tried unsuccessfully to buy KPN in 2000; however, the Telefonica board backed out.

Should the deal go through this time, Telefonica would take over KPN's subscriber base in Belgium, Germany and the Netherlands, giving it enough of a geographical market to begin offering fixed-rate services to business travelers.

The Journal predicted that the deal would encourage other European telecoms to consider their own mergers or joint ventures.

Copyright 2005 by United Press International

Explore further: Bus sets speed record, runs on biomethane compressed natural gas

Related Stories

Recommended for you

Yik Yak's frat-bro founders shrug off growing pains

4 hours ago

The most popular post of all time on Yik Yak is a dirty joke. Less than 2 years old, the Atlanta-based social network is geared mostly toward college students who access and post unsigned announcements through an app on their ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.