KPN signs agreement for acquisition of fiber optic company Kabeltex

KPN wants to take over fiber optic provider and internet provider Kabeltex. The two companies have entered into an agreement for this purpose. After the takeover is completed, Kabeltex’s connections will be added to the KPN network.

KPN wants to acquire Kabeltex to meet its fiber optic objectives, KPN writes in a press release. The provider, together with the Glaspoort joint venture, wants to be able to provide approximately 80 percent of the Netherlands with fiber optic by the end of 2026. The two companies are not sharing financial details about the acquisition. It is not known what amount is involved in the takeover.

The Kabeltex network has approximately 18,000 addresses. The company, which installs fiber optic networks and provides services as an internet provider, is active on Texel and the north of North Holland. The Kabeltex network already has full coverage on Texel. Construction in Den Helder, Hollands Kroon and Schagen is currently being completed, KPN writes.

After the takeover, the Kabeltex network will be added to the KPN wholesale network. This will also allow other providers to offer fiber optic services on the network. It is not known when the acquisition is expected to be completed.