State offloads half of KPN stake

7 Dec 2005

The Dutch government has raised EUR1.4 billion from the sale of an 8% stake in the country’s largest telco, KPN. The sale halves the state’s holding in KPN. The government says it is also planning to dispose of its ‘golden share’ in the telco before the end of the year, which gives it special rights to veto proposed changes to the company. The move should make KPN a more attractive target for potential takeovers.

Netherlands, KPN