ING to sell Internet service provider Freeler to KPN

Source: ING

ING and KPN have signed a letter of intent regarding the purchase of internet service provider Freeler by KPN. Freeler will become a part of KPN's unit Planet Media Group NV.

Freeler was started in 1999 on the initiative of ING Bank, Nationale-Nederlanden and Postbank. It has approximately 60 employees and more than 145,000 active clients.

ING is confident that the continuity and quality of the service to clients of Freeler will be secured through this intended transaction.

Planet Media Group used the brands Planet Internet and Het Net. The internet service provider has more than 240 employees and 1,352,000 clients.

The transaction is expected to be completed in early 2005.

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