Mergers and Acquistions News
Categories: Telecoms
December 22nd 2011, 12:06PM
Bouygues Telecom has agreed to a takeover of Royal KPN's French mobile unit Simyo for an undisclosed amount.
It is expected that the sale will be completed by the end of this quarter and will allow the Paris-based firm to expand its offering of wireless technology.
Currently, KPN France, which is owned by the Dutch Royal KPN, pays for Bouygues Telecom's antennas as it is a virtual mobile network provider, serving around 180,000 prepaid customers.
However, it will continue to operate in France with its Ortel Mobile brand, Bloomberg reported.
According to Victor Bareno, an analyst at SNS Securities, the sale will likely be around €20 million (£16.6 million).
It comes at a time when the French telecoms market is becoming increasingly competitive. Iliad SA has become the latest mobile phone operator to enter the market, with services scheduled to commence next year.
KPN recently announced that it will launch live streaming channels to its smartphone customers in the Netherlands.
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