In November 2009 Mobistar announced the agreement to acquire KPN Belgium Business n.v. (b2b and carrier activities in Belgium). Thetransaction was completed on 31 March 2010 after the operator received the Competition Council´s approval for the acquisition on 25 March 2010. The legal entityis being renamed Mobistar Enterprise Services n.v. Mobistar thus reconfirms its strategy of continuing to invest in the professional market so as to further strengthenits position as a convergent player.
The purchase price for 100 % of the shares of KPN Belgium Business n.v. amounts to65 million euros (on a debt- and cash-free basis) and this amount was paid on 31March 2010. The legal entity is being renamed Mobistar Enterprise Services n.v. and thefull range of telecommunication solutions for the professional market of Mobistar andMobistar Enterprise Services n.v. will bear the strong Mobistar brand name.
The closing took place after the Competition Council approved the transaction oncondition that Mobistar, in addition to its own wholesale services, retain the ADSLwholesale offer of Mobistar Enterprise Services n.v. for 18 months under the sameconditions as before the acquisition.
The consolidation is being implemented as of 1 April 2010, and already this year thetransaction will have a positive impact on Mobistar´s revenues and Ebitda.
The acquisition enables Mobistar to strengthen its competitive position in theprofessional market by positioning itself there as a convergent player with a broader lineof products and services. On the one hand, Mobistar can offer its existing customers inthe segment of independents, liberal professions and small and medium-sizedcompanies a more extensive range of fixed-line services via Mobistar EnterpriseServices n.v. On the other, former KPN Belgium Business customers will get access tothe convergent Mobistar products, allowing Mobistar to expand its market share in thesegment of corporate companies.