Stonepeak, EQT weighing USD15bn KPN bid, sources say

8 Apr 2021

New York-based Stonepeak Infrastructure Partners and Sweden’s EQT are working on a joint bid for KPN which could value the Dutch telco at more than USD15 billion, according to anonymous sources familiar with the matter cited by the Wall Street Journal. The US paper’s sources added that the private equity firms are preparing to conduct due diligence with the goal of submitting a formal bid this spring, with the possibility of taking on another partner, as well as potentially facing competition. Any resulting bids will need to gain clearance from the Netherlands’ government, which can block telecoms sector takeovers on security or ‘public order’ grounds. TeleGeography’s GlobalComms Database notes that the Netherlands’ Undesirable Controls–Telecommunications Act (35153) entered force in May 2020, empowering the sector ministry to actively monitor and intervene in ownership relationships.

Netherlands, EQT, KPN, Stonepeak Infrastructure Partners