'KPN does not seem to be prey number one for Orange'

KPN is certainly not a high list of possible takeover patents of the French Orange. This is what VEB's investor association suspects as a result of takeover rumors. KPN is not the most attractive party in terms of valuation in particular. On Wednesday, KBC estimated that KPN would have to deliver 8

KPN is certainly not a high list of possible takeover patents of the French Orange. This is what VEB's investor association suspects as a result of takeover rumors.

KPN is not the most attractive party in terms of valuation in particular. On Wednesday, KBC estimated that KPN would have to deliver 8.8 times the operating result on sale. At the moment the share is quoted more than 7 times the operating result.

In addition, the debt position of KPN is much worse than that of Proximus, the other alleged takeover candidate of Orange. KPN has 2.8 times the operating result of net debt on the balance sheet, Proximus more than once.

According to VEB, that would include a takeover of KPN, shares and debt. "The fact that the possible cost advantages of a merger are also limited, will probably not put the Dutch company at the top of Orange's list."