KPN shares climb 8% on report EQT weighing takeover bid

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Shares of Royal KPN rose 8% in early trade after Bloomberg News reported on Friday that EQT was considering a takeover bid. “We are not surprised at the timing of the M&A news given on the one hand, telco share prices have been depressed and on the other, we have seen continued interest from infrastructure funds in the sector, and with recent valuation multiples suggesting low hurdle rates,” said analysts at Deutsche Bank.
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