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Next Merger Soap Opera: mmO2?

Posted on Tuesday 24 February 2004

On Friday KPN said it was walking away from its bid to buy mmO2; yesterday the company reinforced its position by saying that there were no further negotiations planned with mmO2 nor was it considering a hostile takeover. Today, however, KPN said it “reserves the right” to reenter the fray if another company went after mmO2 or if mmO2’s board agreed to recommend a KPN bid. KPN has made several failed attempts over the past few years to expand its wireless business, and combining forces with mmO2, especially in Germany, makes good sense if the price is right.

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