EQT holds out hope for KPN after rejection, sources say, but shares slide

AMSTERDAM: Sweden’s EQT is still interested in buying Dutch telecom KPN, two sources familiar with the matter said on Monday, even as shares in the company slid after it rejected the private equity firm’s takeover proposal.

KPN said on Sunday the proposal by EQT AB and another by KKR of the United States, which it has also rejected, lacked merit. Separately the Dutch government repeated it has the power to block unwanted takeovers of telecommunications companies.