KPN increases its bod for US firm iBasis

Telecoms firm KPN said on Monday it had increased its offer for US company iBasis to $3 a share, valuing the company at $93m (€62m).

KPN had earlier raised its initial bid from $1.55 to $2.25. KPN already owns 56% of iBasis and wants to take over the remaining shares.
The newly-increased offer has the support of iBasis management, KPN said in a statement. KPN has now extended the deadline for shares to be tendered to December 8. It will declare the offer binding it if receives 90% of the shares outstanding.
iBasis offers wholesale international long distance telephone calls and prepaid mobile services.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation