Telefonica mulls bid for KPN's 20.5% stake in Telefonica Deutschland
Telefonica, the listed Spanish telco, is considering exercising its call option to acquire the 20.5% owned by Dutch peer KPN in Telefonica Deutschland, El Economista reported. The Spanish-language report did not provide a specific source for the claim.
The move by the Spanish company comes after the surprising disclosure last week by KPN Chief Executive Eelco Blok that he would consider selling the stake for the right price.
According to the report, a 20.5% stake in the German telco is worth between EUR 2.6bn and EUR 2.7bn. KPN is contractually committed to retaining its stake until April 2015, the report noted.
Source El Economista