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Koninklijke KPN NV May Sell German Unit, In Advanced Talks With Telefonica SA-Reuters

Friday, 1 Jun 2012 05:30am EDT 

Reuters reported that Koninklijke KPN NV may sell its German mobile unit E-Plus in an attempt to fend off an unwanted $3.25 billion bid from Mexican tycoon Carlos Slim, who wants to buy a stake in the Company. KPN said on Friday it would review strategic options for E-Plus, which analysts value between EUR8 billion ($9.9 billion) and EUR10 billion. Chief Executive Eelco Blok declined to comment when asked if KPN was in talks about a sale of E-Plus or its Belgian mobile phone unit BASE. Dutch public broadcaster NOS reported KPN was in advanced talks with Spanish rival Telefonica SA about selling E-Plus. KPN is actively looking for investors in China and the Middle East who want to own a substantial stake of the Company, Dutch paper Het Financieele Dagblad reported on Friday. KPN's Chief Financial Officer Eric Hageman spoke to Chinese sovereign wealth fund China Investment Corp at the start of this year, the paper said. Hageman told reporters KPN talked to investors in the United States, Europe and Asia, including China, but declined further comment. 

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