Telenet Denies L’Echo Report on Bid to Acquire KPN’s Base Unit

Telenet Group Holding NV (TNET) denied a report in L’Echo that it made an offer to acquire Royal KPN NV’s (KPN) Base unit.

“I would like to confirm that Telenet will no longer pursue an acquisition of Base as we formally stated yesterday,” Vincent Bruyneel, a spokesman for the Mechelen, Belgium-based company, said in an e-mail.

The Belgian newspaper today said Telenet last week submitted a provisional offer for Base, KPN’s Belgian mobile- phone operator. The bid envisages a joint acquisition of Base by Telenet and fellow cable operator Voo, L’Echo said.

Telenet may make a binding offer for Base within two weeks, L’Echo said, citing people familiar with the matter without identifying them. That contradicts a statement from the company earlier this week that it “is not pursuing any significant acquisitions in the foreseeable future.”

“We don’t know where the rumors in L’Echo are coming from but we would like to keep up our reputation of being transparent to the financial markets,” Bruyneel said.

To contact the reporter on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.