AMSTERDAM—Dutch telecommunications giant KPN will buy the remaining 22.5-percent interest in German mobile-phone operator E-Plus from U.S.-based BellSouth Corp. for about $1.06 billion in KPN stock, giving KPN full control of E-Plus.
As part of the deal, KPN will pay a $416 million loan back to BellSouth and will consolidate $1.8 billion in E-Plus debt previously held by both companies. As a result, KPN’s net debt will rise by about $800 million. BellSouth said it will receive an after-tax gain of about $900 million from the deal.
Completion of the deal is expected in the second quarter of this year.
