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”.
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.
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