Swedish private equity investor EQT is making another attempt to buy KPN, this time with US investor Stonepeak Infrastructure Partners, according to reports. None of the alleged partners — neither KPN nor EQT or Stonepeak — are commenting on the rumours, first published in the Wall Street Journal.

The report said that the duo were offering €3 a share, valuing KPN at €12.5 billion. KPN’s share price went up from around €2.92 to €2.95 on the news, but today dropped to €2.88, giving the company a market cap of €12.08 billion.

EQT, which has a number of telecoms interests including 50% of Zayo in a joint venture with Digital Colony, was last reported to be hovering over KPN in October and November 2020 when sources were saying the two sides were in talks. KPN shares were then valued at €2.64, giving the company a valuation of €11.1 billion. KPN’s CEO Joost Farwerck said in October that the company was open to interest. “If somebody comes along with an interesting proposal, we can always listen, but we’re not focused on it,” he told reporters.

Read more/Source: Capacity