Dutch Telecoms: Broadband still promotional with mobile mixed

Research evidence excerpt

Dutch Telecoms: Broadband still promotional with mobile mixed

Global Research

20 July 2026ab

Dutch Telecoms Equities

Europe including UKBroadband still promotional with mobile mixed

Telecommunications

Polo Tang

A growing Dutch market, well insulated from satellite competition Analyst

We undertake our quarterly review on Dutch pricing - the broadband market remains polo.tang@ubs.com

promotional but front-book pricing is similar to the last quarter (Figure 1Broadband'mid-tier'efectivepriceovertime(€pm)). On mobile, +44-20-7568 1286

the premium and discount segments both see mixed moves (Figure 2Mobile'mid-tier'efectivepriceovertime(€pm)). Overall, the Dhruva Kusa Shah

Dutch market is growing with all operators putting through CPI-linked pricing on both Analyst

broadband/mobile (Odido in January with KPN/VZ in July for broadband and October for dhruva-kusa.shah@ubs.com

mobile). Additionally, we think the Netherlands is one of the least exposed markets to +44-20-7568 3395

satellite competition amid high levels of urban population density, fibre coverage and

convergence - see our deep-dive for more details (link). In terms of subscriber

momentum for Q2 specifically, KPN/VodafoneZiggo have commented that they have

seen a modest benefit up until April given a competitor data breach but this has since

faded.

Promotions continue in a competitive broadband market

There is little change in broadband front-book pricing quarter-on-quarter. However, the

key debate is whether the blocked fibre deal for Glaspoort (KPN JV) and Delta Fiber (link)

could lead to fibre overbuild (rather than consolidation) and result in increased

competition. Currently, KPN/Odido offer €35pm/€25pm 12 month promotional prices

respectively across their portfolio.