KPN rejects takeover bids from EQT-Stonepeak consortium and KKR

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.