January 31, 2019 / 12:54 PM / 3 months ago

KPN shares rally after report says Brookfield mulling bid

KPN logo is seen at its headquarters in Rotterdam, Netherlands, January 30, 2019. REUTERS/Piroschka van de Wouw

MILAN (Reuters) - Shares in Dutch telecoms company KPN jumped more than 8 percent on Thursday after Bloomberg reported that Brookfield Asset Management was considering making an offer for the firm.

Citing people familiar with the matter, the news agency said the Canadian asset manager was holding exploratory talks with Dutch pension funds about partnering on a potential bid.

Brookfield has not approached KPN yet and discussions are at an early stage, it said.

A KPN spokeswoman said: “We do not comment on market rumours”.

KPN shares were up 8.3 percent by 1158 GMT to their highest level in nearly a year.

Reporting by Danilo Masoni and Anthony Deutsch

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