KPN acquires Primevest fibre networks

Dutch telco KPN is expanding its fibre footprint in the country’s major cities by acquiring the networks of Primevest Capital Partners.

Primevest’s networks will be added to KPN’s own fibre network. The move will expand its reach by an additional 127,000 households in the cities of The Hague, Rotterdam and Eindhoven.

KPN said the acquisition is in line with its ambition to provide fibre to approximately 80% of the Netherlands by the end of 2026.

KPN is rolling out fiber throughout the Netherlands and is also the largest provider of fibre in the Netherlands’ major cities.

KPN’s network is an open network, meaning that other providers of telecom services can also provide their services over this network.

The transaction is expected to close at the end of June 2023. Financial details of the transaction are not being disclosed.

Wouter Stammeijer, chief technology and digital officer and member of the board of directors of KPN, said: “This acquisition is a welcome addition to our existing fiber network. We have now replaced our copper network with fiber optic at approximately 4 million addresses. A major achievement and at the heart of our strategy. We will complete the work with full energy in the coming years.”

Netherlands-based Primevest Capital Partners has invested in a number of fibre projects across Europe, notably in the Netherlands, Germany and Spain, through its communication infrastructure fund.