Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. EQT AB (publ)
  6. News
  7. Summary
    EQT   SE0012853455

EQT AB (PUBL)

(EQT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

KPN rejects takeover bids from EQT-Stonepeak consortium and KKR

05/02/2021 | 02:53pm EDT

(Reuters) -KPN NV has rejected unsolicited takeover offers from a private equity consortium comprising EQT AB and Stonepeak Infrastructure Partners and another from U.S. investment firm KKR, the Dutch telecommunications company said on Sunday.

"Boards of KPN concluded that both approaches fail to provide tangible and material added value over KPN's recently updated growth strategy," the company said in a statement.

It said there had been no discussions or negotiations with EQT, Stonepeak or KKR, adding that the EQT-Stonepeak proposition did not include an offer price.

In April, the Wall Street Journal reported that private investors, including EQT, sought to pay 3 euros per share for the top Dutch telecoms provider.

The consortium is considering whether to raise its offer, the Financial Times, which first reported on the bid, said on Sunday.

Addressing an earnings conference on Friday, KPN's Chief Executive Officer Joost Farwerck said the company was investing in infrastructure for the first time in 26 years and is not seeking to be bought.

Both EQT and Stonepeak have been circling KPN since last year and started conducting due diligence last month, the FT reported, citing multiple people with direct knowledge of the talks.

EQT declined to comment, Stonepeak did not immediately respond to Reuters' request for a comment on Sunday.

Any deal could also be opposed by the Dutch government, which through a law adopted last year, has the option to block takeovers of Dutch telecom companies if they are deemed a threat to national security.

KPN also has a defence against unwanted takeovers in the form of a foundation that can build up a controlling stake to block any deal.

This proved successful in 2013, when KPN won a lengthy battle against unsolicited interest from Mexico's America Movil.

($1 = 0.8321 euros)

(Reporting by Aishwarya Nair and Anirudh Saligrama in Bengaluru; Editing by Alex Richardson and Barbara Lewis)


© Reuters 2021
All news about EQT AB (PUBL)
06/22EQT  : To Make WorkWave Standalone Portfolio Company
MT
06/22EQT  : WorkWave launches as standalone portfolio company following separation fr..
AQ
06/17DANAHER  : EQT Agrees to Sell Aldevron to Danaher for $9.6 Billion
MT
06/17Danaher to Buy Aldevron for About $9.6 Billion in Cash
DJ
06/17EQT  : Private Equity to sell Aldevron to Danaher Corporation for enterprise val..
AQ
06/17EQT  : European Commission Approves JV Between EQT, Investindustrial Units
MT
06/16European Shares End Largely Higher Ahead of US Fed Meeting
MT
06/16GLOBAL MARKETS LIVE : Oracle, General Motors, Credit Suisse, Sony, Made.com...
06/16EQT  : Unit Acquires Majority Stake In Parcel2Go
MT
06/16EQT  : Private Equity acquires majority stake in Parcel2Go, UK's largest parcel ..
AQ
More news
Financials
Sales 2021 1 232 M 1 474 M 1 474 M
Net income 2021 642 M 768 M 768 M
Net cash 2021 763 M 913 M 913 M
P/E ratio 2021 48,1x
Yield 2021 1,14%
Capitalization 30 931 M 36 926 M 37 007 M
EV / Sales 2021 24,5x
EV / Sales 2022 20,9x
Nbr of Employees 654
Free-Float 28,3%
Chart EQT AB (PUBL)
Duration : Period :
EQT AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EQT AB (PUBL)
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 31,35 €
Average target price 27,96 €
Spread / Average Target -10,8%
EPS Revisions
Managers and Directors
Christian Otto Sinding Chief Executive Officer & Managing Partner
Kim Henriksson Chief Financial Officer
Yngve Conni Jonsson Chairman
Caspar Mats Andreas Callerström Chief Operating Officer & Deputy CEO
Edith W. Cooper Independent Director
Sector and Competitors