Friday, July 25, 2014





KPN sells German assets for $500 million


February 19. 2013 5:28PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Royal KPN NV says it has agreed to sell its network of broadcasting towers for mobile telephony in Germany to American Tower Corp. of the U.S. for 393 million (around $500 million).


KPN, the Netherlands' largest telecommunications company, also is the third-largest mobile provider in Germany via its E-Plus arm. The towers are used by E-Plus and other smaller providers in Germany, and KPN intends to lease back capacity on the towers as needed.


KPN's earnings have slumped in recent quarters. It said in a statement Thursday that owning towers is not part of its business strategy, and it will use the proceeds to pay down debt.


American Tower Corp. is based in Boston and operates wireless broadcast towers around the world.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds