Telefonica in advanced talks to buy KPN's German business-FT

MADRID, July 22 Mon Jul 22, 2013 10:19am EDT

MADRID, July 22 (Reuters) - Spain's Telefonica is in advanced talks to buy KPN's operations in Germany, the Financial Times reported on Monday, citing two sources close to the situation.

The deal could be announced as soon as Monday following board meetings in the afternoon, the FT said, although one source cautioned there was no certainty a deal would be made.

KPN declined to comment on the report. A spokesman for Telefonica could not immediately be reached for comment. (Reporting by Clare Kane in Madrid and Robert-Jan Bartunek in Brussels; Editing by Sarah Morris)