LAWFUEL – Press Release Service – Cravath represented KPN N.V., the …

LAWFUEL – Press Release Service – Cravath represented KPN N.V., the national telecommunications carrier of The Netherlands, in its agreement to merge KPN’s international wholesale voice business into iBasis, a global VoIP company. iBasis will acquire KPN subsidiary KPN Global Carrier Services and receive US$55 million in cash from KPN in return for the issuance of approximately 40 million shares of iBasis common stock, representing 51% of iBasis’ fully diluted shares. The partners involved in this matter were Philip J. Boeckman and Mark I. Greene . The deal was announced on June 21, 2006.

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