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    KPN   NL0000009082

ROYAL KPN N.V.

(KPN)
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Royal KPN N.V. Press Release: KPN rejected two unrelated, unsolicited approaches

05/02/2021 | 10:56am EDT
Royal KPN N.V. 
Royal KPN N.V. Press Release: KPN rejected two unrelated, unsolicited approaches 
02-May-2021 / 16:54 CET/CEST 
=---------------------------------------------------------------------------------------------------------------------- 
KPN rejected two unrelated, unsolicited approaches 
  ? The Boards of KPN concluded that both approaches fail to provide tangible and material added value over KPN's 
    recently updated growth strategy 
 
Royal KPN NV (KPN) confirms that it has recently rejected an unsolicited high level approach by EQT/Stonepeak for a 
takeover of KPN. The EQT/Stonepeak proposition did not include an offer price. With this announcement KPN reacts to 
today's media reports. 
 
KPN adds it also recently rejected an unsolicited approach for a takeover of KPN made by KKR. 
 
In line with their fiduciary duties the Board of Management and the Supervisory Board of KPN (the Boards), supported by 
their financial and legal advisors, reviewed the approaches which EQT/Stonepeak and KKR recently and separately made. 
In particular, the Boards carefully considered whether the two approaches were in the best interest of KPN compared 
with KPN's successful existing strategy for sustainable success and long-term value creation of the business, taking 
into account the interests of its shareholders and all its stakeholders, including customers, employees, creditors and 
bondholders, suppliers, business partners, government and Dutch society at large. 
 
The Boards concluded to reject both unsolicited approaches as they did not provide tangible and material added value to 
KPN's widely supported new strategy. 
 
There have been and are no discussions or negotiations with EQT/Stonepeak or KKR. 
 
KPN is fully focused on the execution of its recently updated strategy 'Accelerate to grow' to create long-term value 
in the interests of all KPN stakeholders. 
 
 
For more information: 
KPN Royal Dutch Telecom 
Investor Relations 
Wilhelminakade 123 
3072 AP Rotterdam 
E-mail: ir@kpn.com 
 
=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1191461 02-May-2021

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1191461&application_name=news 
 

(END) Dow Jones Newswires

May 02, 2021 10:55 ET (14:55 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.21% 33874.24 Delayed Quote.10.91%
KKR & CO. INC. 1.37% 59.36 Delayed Quote.46.60%
ROYAL DUTCH SHELL PLC 1.40% 17.364 Real-time Quote.18.82%
ROYAL KPN N.V. -1.42% 2.629 Real-time Quote.5.71%
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Financials
Sales 2021 5 223 M 6 231 M 6 231 M
Net income 2021 535 M 639 M 639 M
Net Debt 2021 5 714 M 6 816 M 6 816 M
P/E ratio 2021 20,4x
Yield 2021 5,27%
Capitalization 11 035 M 13 180 M 13 163 M
EV / Sales 2021 3,21x
EV / Sales 2022 3,14x
Nbr of Employees 9 237
Free-Float 79,8%
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Number of Analysts 24
Last Close Price 2,63 €
Average target price 3,12 €
Spread / Average Target 18,6%
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Managers and Directors
NameTitle
Joost F. E. Farwerck Chairman-Management Board, CEO & COO
Chris H. Figee Chief Financial Officer
Duco W. Sickinghe Chairman-Supervisory Board
Babak Fouladi Chief Technology & Digital Officer
Derk Johan Haank Vice Chairman-Supervisory Board
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