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Business

KPN, Telekom Call Off British O2 Plans

Dutch telecommunications operator KPN and Germany's Deutsche Telekom said Tuesday that they have ended talks regarding a possible purchase of British peer O2 and have no plans for any part of the group. KPN confirmed press speculation that it was approached by Deutsche Telekom, Europe's largest telecommunications group, regarding the possibility of buying O2's German activities in the context of an offer for the O2 group as a whole. "The discussions with Deutsche Telekom, which were of a preliminary nature, are no longer taking place," it added in an official statement. In a separate statement, the German group confirmed the talks took place."Deutsche Telekom and KPN initiated exploratory discussions with respect to a potential acquisition of O2. These discussions have now ended. "At the request of the Panel on Takeovers and Mergers, Deutsche Telekom confirms it has no present intention of making an offer for O2." A report in Britain's The Sunday Times said Deutsche Telekom and KPN had been in talks for weeks but were unable to agree terms. It was understood that under the proposed structure of the deal, Deutsche Telekom would have taken over the bulk of the business to further boost its presence in Britain, in addition to its T-Mobile network.

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