KPN shares rise on AT&T takeover speculation

The share price of Dutch telecoms group KPN rose sharply in Amsterdam on Thursday following speculation it may be an AT&T takeover target.

The Wall Street Journal reported KPN may be ‘on the radar’ at AT&T, boosting the share price by 3.6% at the end of morning trading, the Telegraaf said.
The paper says AT&T’s chief executive Randall Stephenson is good friends with Mexico’s Carlos Slim, who owns telecoms group Movil. Last year Movil bought a 28% stake in KPN. AT&T also has a small stake in Movil.