KPN has announced that it has discontinued the sale process of its Belgium-based subsidiary BASE.

The Netherlands-based operator said current difficult financial market conditions had led to “unsatisfactory non-binding offers” that did not take the strong position and outlook of BASE into account.

BASE was formally put up for sale in June when KPN said the proceeds will be used to improve its “credit profile and financial flexibility”.

Last month, KPN revealed it is planning to cut its dividend after second quarter earnings were hit by a drop in sales and restructuring costs.

BASE is Belgium’s third largest mobile operator with a market share of around 23 percent.

It has strong revenue growth, attractive margins and excellent momentum for continued upside, according to KPN. 



It is the second time this year that KPN has terminated the sale of one of its subsidiaries.

In June, talks regarding the potential sale of Germany-based mobile operator E-Plus were terminated.

European Communications is hosting a free-to-attend M2M seminar in London featuring a keynote by Vodafone. Click here to learn more