Dutch operator KPN’s CEO Eelco Blok told an investor conference that selling its 20.5 per cent stake in Telefonica Deutschland was an “interesting option” worth considering, and that a decision to do so would “depend on the price”.
“Looking at the value of Telefonica Deutschland today there is clearly an upside. That’s one of the elements that we will take into account when deciding what to do with our stake,” he said at the Morgan Stanley Media and Telecoms Conference in Barcelona.
Telefonica closed the acquisition in October of KPN-owned E-Plus in Germany, for which KPN received €5 billion in cash, plus its stake in Telefonica Deutschland.
The agreement is subject to a six-month lock-up period, which gives KPN time to mull over whether it wants to sell its stake, keep it or spin it off to shareholders. America Movil holds a 20 per cent stake in KPN.