July 27, 2012 / 10:28 AM / in 5 years

Belgium's De Persgroep aims for KPN's BASE -report

2 Min Read

BRUSSELS, July 27 (Reuters) - Media group De Persgroep is working on an offer for the Belgian unit of Dutch telecoms group KPN, Belgian business daily De Tijd reports.

The Belgian group, which owns several newspapers in the Netherlands and Belgium, including De Tijd, as well as television and radio stations, already operates Jim Mobile, a Belgian mobile phone service aimed at young consumers which makes use of the BASE network, the newspaper wrote on Friday.

KPN said on Tuesday that it had started the sales process of its Belgian unit, the third largest operator in the country behind Belgacom's Proximus and Mobistar.

Belgian cable company Telenet is seen as a likely suitor, although its CEO Duco Sickinghe on Thursday declined to say whether the group would make a bid for KPN's unit and addded that he was exploring various options to improve Telenet's mobile offering.

Based on 280 million euros of estimated core earnings (EBITDA) for 2012, and multiples of between 5.5 and 6.5 times, KPN could raise between 1.6 billion and 1.8 billion euros ($2.3 billion) from the disposal of BASE, Belgium's third-largest mobile phone company.

A spokeswoman for De Persgroep declined to comment. (Reporting By Robert-Jan Bartunek; Editing by Roger Atwood)

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