Royal KPN N.V.
Royal KPN N.V. Press Release: KPN to sell its international network to GTT
Communications, Inc.
08-Jul-2019 / 08:00 CET/CEST
Today, Royal KPN N.V. ("KPN") announced that it has reached agreement to
sell its international network to GTT Communications, Inc. ('GTT'), a global
cloud networking provider to multinational clients and operator of a Tier 1
IP network, for approximately EUR 50 million on a cash and debt-free basis
(enterprise value). The transaction includes the sale of international fiber
assets and network points of presence (POPs) in 21 countries.
The transaction is in line with KPN's strategy to accelerate simplification
of the company. The proceeds of the transaction will be retained to increase
operational and financial flexibility. The transaction is subject to regular
closing conditions, including regulatory approvals.
After closing of the transaction, KPN continues delivering international
services to Dutch Business customers as part of its ICT-services offering.
As part of the transaction, KPN will enter into a master services agreement
with GTT to ensure continuity of international network services to its
customers.
*For more information:*
KPN Royal Dutch Telecom
Investor Relations
Wilhelminakade 123
3072 AP Rotterdam
Tel: +31 (0)70 4460986
E-mail: ir@kpn.com
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
837449 08-Jul-2019
(END) Dow Jones Newswires
July 08, 2019 02:00 ET (06:00 GMT)
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