logo
Plus   Neg
Share
Email

KPN Shares Surge After Report Says Brookfield Asset Management Considering Offer

Shares of Royal KPN NV (KPN,KKPNY.PK) jumped more than 6 percent in Amsterdam trading after Bloomberg reported that Brookfield Asset Management Inc. (BAM) is considering making an offer for Dutch telecommunication firm.

The report said the Canada's largest alternative asset manager is holding exploratory talks with Dutch pension funds PGGM and APG Groep NV about partnering on a potential bid for KPN.

KPN had a market value of about 10.6 billion euros or $12.2 billion)on Wednesday, before Brookfield's deliberations were reported.

Brookfield hasn't approached KPN yet and discussions are at an early stage, the report said.

The firm may opt to not proceed with an offer, the report said.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT