Telecoms company KPN on Wednesday scrapped plans to sell its Belgian mobile phone unit Base after failing to attract a good enough offer.

‘Current difficult financial market conditions are reflected in unsatisfactory non-binding offers for Base,’ KPN said in a short statement.
In addition, ‘the non-binding offers did not take the strong position and outlook of Base into account,’ KPN said.
Two days ago, Belgian cable operator Telenet said it was no longer in the race to acquire Base, which is a major profit motor. KPN put the unit up for sale in July in an effort to boost shareholder value. It had hoped to raise up to €1.8bn from the sale.