Snubbed by KPN, EQT’s Delta plans $2.4 bln Dutch fibre optic network

AMSTERDAM: Dutch telecommunications firm Delta, owned by Swedish private equity investor EQT, said on Monday it planned to spend 2 billion euros ($2.37 billion) over the next three years to build out its fibre optic network in the Netherlands, as it aims to compete with national telecoms company KPN NV..

In May, KPN rejected a possible takeover bid by a private equity consortium comprising of EQT and U.S. investment firm KKR .

Delta said in a statement on Monday it expected its fibre customer strength of 1 million fibre at the end of 2020 to 2 million by 2025, after having received 1.45 billion euros ($1.72 billion) in financing from major Dutch banks ABN Amro and ING, as well as Santander and Deutsche Bank.