Royal KPN extends tender offer for iBasis

WILMINGTON, Del. — Dutch telecom company Royal KPN NV said Friday that it has extended its tender offer to acquire all the outstanding shares of iBasis Inc. that it doesn’t already own.

The offer will now expire on Oct. 23. All other terms and conditions of the offer remain the same.

Royal KPN, the majority owner of iBasis, launched a tender offer in June to acquire the remaining 44 percent of the company for $1.55 per share. But iBasis officials balked at the offer calling it “grossly inadequate.”

Shares of iBasis, which provides wholesale long distance phone service and prepaid phone cards, rose 7 cents, or 3.1 percent, to $2.36 in afternoon trading.