KPN Rejects Takeover Bids From EQT/Stonepeak, KKR

Responding to media reports, Dutch telecom firm Royal KPN NV (KKPNY.PK,KPN) confirmed that it has rejected an unsolicited takeover offers from a private equity consortium comprising EQT and Stonepeak. The EQT/Stonepeak proposition did not include an offer price.

In addition, KPN said it recently rejected an unsolicited approach for a takeover of KPN made by KKR.

KPN concluded that both approaches fail to provide tangible and material added value over KPN's recently updated growth strategy.

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