Bloomberg News

Liberty Global Weighs Bid for KPN’s Belgian Unit, CEO Fries Says

June 12, 2012

Liberty Global Inc. (LBTYA:US) Chief Executive Officer Mike Fries said he will take a look at Royal KPN NV (KPN)’s Belgian unit that the Dutch phone company has put up for sale.

“We’ll take a look at it, whether it’s something we’ll do is hard to say,” Fries said in an interview in Cologne today. “We looked at Switzerland too when Orange was sold, and we didn’t do that.”

KPN, the largest Dutch phone operator, in April began a review of the future of the Belgian BASE division, which people familiar with the matter said may fetch about 1.8 billion euros ($2.3 billion) in a sale. Private equity firms including Bain Capital LLC and CVC Capital Partners Ltd. are among those that may make an offer, people said at the time.

Liberty Global, billionaire John Malone’s cable company, controls Belgian cable television operator Telenet Group Holding NV. (TNET) KPN, based in The Hague, Netherlands, is seeking to fend off an 8 euro-a-share bid for a stake of as much as 27.7 percent from Carlos Slim’s America Movil (AMXL) SAB.

“It’s never an easy decision, but we owe it to our shareholders to take a look at it,” Fries said today. He declined to say what a decision to bid for BASE will depend on.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at

To contact the editor responsible for this story: Kenneth Wong at

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