KPN of the Netherlands has announced that its single largest shareholder, US-based Capital Group, has increased its equity interest in the operator to above 23%, according to AFX News citing company filings with the Dutch financial markets regulator AFM. The US group holds its stake in KPN via several investment vehicles and reportedly told Thomson Financial News it takes a ‘long-term view on any investments it makes’. A spokesman for the group added that ‘Capital … doesn’t invest with the aim of taking control.’
KPN has recently been linked again with a possible merger with its Belgian counterpart Belgacom. Only last week the Belgian financial daily De Tijd reported rumours of a tie-up between KPN and Belgacom, arguing that the enlarged entity would be better placed to withstand European competition if they were to operate as one group on the Benelux market.