KPN, a leading telecommunications company in the Netherlands, has announced the acquisition of Primevest Capital Partners' fibre networks to solidify its position in major cities. The deal involves taking over 127,000 homes in The Hague, Rotterdam, and Eindhoven. This acquisition aligns with KPN's ambitious plan to provide fibre connections to approximately 80 percent of the Netherlands by the end of 2026.
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KPN expressed enthusiasm about the acquisition, stating, "This takeover is a welcome addition to our existing fibre network. We have now replaced our copper network with fibre optics on approximately 4 million addresses, a significant achievement at the core of our strategy. We will continue our work with full energy in the coming years."
Open Network Promotes Competition and Service Diversity
KPN is already the largest provider of fibre networks in major Dutch cities, and this acquisition further strengthens its leading position. By integrating Primevest's networks, KPN aims to offer its customers the best experience on a modern, sustainable, and future-proof network. Notably, KPN's network is open, allowing other telecom service providers to leverage the infrastructure and deliver their services to customers.
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Transaction Completion
The transaction is expected to be finalized by the end of June 2023; however, no financial details have been disclosed at this time.
KPN's acquisition of Primevest's fibre networks underscores its dedication to delivering superior connectivity solutions and meeting the evolving needs of customers in major Dutch cities. The move represents another significant step in KPN's mission to build a future-ready, connected nation.
