KPN: Not Interested In Buying Western Wireless Telering

AMSTERDAM -(Dow Jones)- Dutch telecom operator Royal KPN NV (KPN) is not interested in buying U.S. telecommunications company Western Wireless Corp.'s (WWCA) Austrian subsidiary Telering, KPN spokesman Marinus Potman told Dow Jones Newswires Tuesday.

"We did study Telering but the price was too high and shareholder return would have been too low," Potman said.

He declined to mention Telering's price.

At the end of May, Western Wireless was reported to be sounding out potential offers for its international mobile-phone assets.

Telering is Western Wireless' largest foreign subsidiary, and Austria's fourth-biggest mobile operator. In 2004, it generated nearly $600 million out of Western Wireless' group sales of $1.92 billion and is debt free.

Potman said the decision by KPN not to pursue a possible Telering buy was made recently but he declined to elaborate.

Earlier Tuesday, KPN said it will take over low-cost operator Telfort for as much as EUR1.12 billion, in a deal designed to strengthen its position as a market leader in the Netherlands.

-By Stefan Simons, Dow Jones Newswires; 31 20 6260770; stefan.simons@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 28th June 2005