The Dutch incumbent KPN has taken over the local activities of Youfone in a transaction worth around €200 million.
According to KPN, Youfone is already active on its networks and growing fast, with more than 540,000 Youfone customers already using the best mobile and fixed networks in the Netherlands. They will continue to do so after the intended acquisition.
It adds that Youfone is a fast-growing and challenging telecom operator with a distinctive brand that KPN is pleased to add to its portfolio, alongside its other brands such as XS4ALL, Solcon and Simyo. With this acquisition, KPN materially strengthens its position in the mobile and broadband markets, especially in the faster-growing no-frills segments.
KPN and Youfone expect to achieve further growth in the coming years by continuing the efficient operating model that Youfone has been able to successfully implement. The Youfone organisation will continue to operate independently within KPN to ensure that current and future Youfone customers continue to be served in the way they are used to.
The transaction is subject to customary closing conditions, including competition authority approval.
Broadband TV News notes that Youfone was launched in the Netherlands in 2008 and is also active in Belgium.
