KPN shares slide after it rejects takeover offers

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KPN (KPN.AS) shares lost almost 4% in early trading on Monday after the Dutch telecoms company said it had rejected two unsolicited takeover offers in recent weeks.

and Stonepeak Infrastructure Partners, saying they had failed to provide "tangible and material added value".

KPN clearly has "the intention to quell takeover rumours, no intention to be sold", ING analyst David Vagman wrote in a note. "Regarding EQT/Stonepeak, we believe it may not be their last attempt to pursue a takeover", KBC Securities said, adding that KPN would be the right fit for the suitors, which already have stakes in other telecoms businesses.

 

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