KPN is using the proceeds from the sale of its E-Plus German mobile subsidiary to Telefónica to finance the acquisition, in line with the stated aim of its strategy in the Netherlands and Belgium.
KPN said it would redeem €500 million of external debt at Reggefiber in the fourth quarter.
“We are pleased to have obtained full ownership of Reggefiber and aim to learn and make use of the vast amount of expertise which is present within Reggefiber,” said Joost Farwerck, member of the board of management at KPN.
“The efficient way of building and operating a passive infrastructure, the local operational approach and the FttH knowledge centre will be of great value to KPN’s operations. KPN will continue to focus on executing its hybrid upgraded copper/FttH strategy in The Netherlands to provide high quality broadband services to our customers.”