Statement re Xantic
December 23 2003 - 11:05AM
UK Regulatory
RNS Number:6279T
Koninklijke KPN NV
23 December 2003
Xantic increases efficiency
Xantic, worldwide provider of communications services via satellites and
maritime software, will reduce the number of employees from 680 to 433 in the
coming three years. The company, which is owned by KPN (65%) and the Australian
telecommunications operator Telstra (35%), wishes to achieve efficiency
improvements by simplifying the organizational structure and by streamlining the
business processes. The quality of the services provided to existing clients
will continue unchanged. Xantic is reorganizing in order to maintain its leading
position in the satellite communications services market and to be able to
anticipate changing demands from the market.
Ir. P.AA. Eelkman Rooda, CEO of Xantic: 'The focus for the next few years is
evident and clear. Of course we will pay attention to generating a healthy cash
flow. In the long term Xantic will continue to service the core segments of the
most important markets.'
The reorganization will lead to an exceptional charge for KPN which will, for
the most part, be booked in 2003. KPN consolidates Xantic for 100%.
Corporate Communications Investor relations
Fax: (070) 446 63 10 Fax; (070) 446 05 93
E-mail: press@kpn.com E-mail: ir@kpn.com
This information is provided by RNS
The company news service from the London Stock Exchange
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