KPN Back in fashion

The sale of an 8% stake might be expected to depress a company’s stock. Not so with KPN, the Dutch telecoms operator. Investors have snapped up the 105m KPN shares the government has released on to the market. ABN Amro, which is handling the sale, is disposing them at a premium to their closing price on December 6. The sector has not seen such demand since its 2000 heyday. It is easy to see why investors might be keen on the stock. Now that trade buyers are competing with private equity firms fo...