|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.5790 - 2.6060|
|52 Week Range||2.1380 - 2.9070|
|Beta (3Y Monthly)||0.63|
|PE Ratio (TTM)||48.66|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||0.12 (4.63%)|
|1y Target Est||3.03|
KPN reported a 3.6% gain in core profits for the second quarter, despite suffering a major network outage that was followed by news that Chief Executive Officer Maximo Ibarra would be leaving the Dutch telecoms firm in September. The Dutch telecoms market leader suffered a four-hour network outage that knocked out emergency service lines on June 24.
(Bloomberg) -- Royal KPN NV Chief Executive Officer Maximo Ibarra is leaving the Dutch phone company less than two years into his job to run Comcast Corp.’s Italian pay-TV unit.Ibarra, 50, was named CEO of Sky Italia on Tuesday and will assume the role on Oct. 1, according to a statement from the Italian company. Bloomberg News earlier on Tuesday reported that Ibarra was leaving KPN to take the Sky Italia position. Shares of KPN fell as much as 4% in early trading and closed down 1.8% in Amsterdam.The resignation announced by KPN on Tuesday surprised some analysts given Ibarra’s short tenure, despite Italian newspapers having reported that he was a leading candidate for the Sky role. KPN is now searching for a successor to replace the Colombian-Italian executive, its first foreign CEO, when he leaves on Sept. 30.Ibarra had ambitions to put KPN back on the acquisition trail, people familiar with the matter said ahead of his April 2018 arrival. But a big KPN deal hasn’t happened and he has focused on cutting jobs and simplifying the company’s IT systems, while KPN contends with a tough competitive landscape in the Netherlands that’s spurred mergers among rivals.The departure is a loss for KPN, which will probably appoint an external successor, ABN Amro analyst Konrad Zomer said in a note. He doubted Chief Financial Officer Jan Kees de Jager would become CEO, while calling him “very solid,” and said other board members and senior management might not have the right profile.What Bloomberg Intelligence Says“The resignation of CEO Maximo Ibarra -- while executing his midterm plan unveiled in November -- will dent confidence in KPN’s ability to return to sustainable Ebitda growth. The management-team reshuffle could also create a window of opportunity for a takeover attempt, in our view.”--Erhan Gurses, Telecom analystClick here to view the researchKPN stock surged in late January after people familiar with the matter said Canada’s Brookfield Asset Management Inc. was in early-stage talks to make an offer for company. The fate of those talks is unclear and the Dutch government has since tightened its control over foreign takeovers.The shares are up about 11% since Ibarra took charge, compared with a 10% decline in the Stoxx 600 Telecommunications Index.“The supervisory board regrets but respects Maximo’s decision and accepts his resignation,” Chairman Duco Sickinghe said in a statement from KPN. The company said Ibarra will step down for “pressing family reasons.” KPN said the departure isn’t connected to a network outage in the Netherlands that lasted for hours on Monday, knocking out emergency phone services.“I regret the timing, but family reasons gave me no choice. I will dedicate myself the coming months to secure a seamless transfer to my successor,” Ibarra said in the statement.He will report to Andrea Zappia, head of Sky's continental European business. ``Our next introduction of broadband services will allow us to further expand our business in a crucial area for our clients and in which Maximo has extensive experience,'' Zappia said in the statement.By leaving so soon, Ibarra forfeits a one-time payment of 200,000 euros ($228 million) in cash and 200,000 euros in shares that was subject to a retention period, according to publicly-disclosed details of his contract that were confirmed by a KPN spokeswoman.Broadband PushHis telecommunications experience could help Comcast with plans to offer high-speed broadband in Italy through a deal with fixed-line operator Open Fiber SpA. Sky, mainly a satellite broadcaster in Italy, faces mounting competition from Netflix Inc. and Amazon.com Inc.’s Prime Video service.Ibarra ran the Italian business of Veon Ltd., renamed from VimpelCom Ltd., before joining KPN and oversaw one of Europe’s biggest telecom tie-ups -- the 2016 merger of VimpelCom’s Italian wireless network with the local unit of CK Hutchison Holdings Ltd.(Updates with confirmation from Sky Italia in second statement)\--With assistance from Sonia Sirletti and Dan Liefgreen.To contact the reporters on this story: Daniele Lepido in Milan at firstname.lastname@example.org;Ellen Proper in Amsterdam at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Dutch government launched an inquiry on Tuesday into a nationwide network outage at telecoms company KPN that knocked out emergency service numbers for nearly four hours, with the company pointing the finger at a software error. Monday's network problem, which rendered national police, ambulance and fire department emergency numbers unreachable, did not appear to be the result of a security breach, KPN said. Justice Minister Ferd Grapperhaus told Dutch lawmakers that during the outage three KPN backup systems had failed, and the government had moved to an "analog" play-book crafted for situations in which digital services failed.
The Dutch government launched an inquiry on Tuesday into a nationwide network outage at telecoms company KPN that knocked out emergency service numbers for nearly four hours, with the company pointing the finger at a software error. Monday's network problem, which rendered national police, ambulance and fire department emergency numbers unreachable, did not appear to be the result of a security breach, KPN said.
The Dutch were given a frightening lesson about society's reliance on technology. A major telecommunications outage knocked Netherland's version of 911 offline for a few hours on Monday, reported Reuters.
A nationwide telecommunications outage in the Netherlands knocked police and emergency numbers offline for roughly four hours on Monday before national carrier Royal KPN NV said service was restored. "We have no reason to think it was (a hack) and we monitor our systems 24/7", a KPN spokeswoman said. Anna Posthumus, a spokeswoman at the National Coordinator for Security and Counter-Terrorism, said it is "too early to say" whether there may have been a cyber attack.
U.S. Ambassador Pete Hoekstra said on Wednesday the Dutch government should ban Huawei outright from supplying equipment for a new 5G mobile telecommunications network in the Netherlands if it wants to prevent spying by the Chinese state. Leaders in the Netherlands have not yet taken a position on using Huawei technology ahead of a 5G network auction process due to begin in coming months. Hoekstra made his comments as U.S. Secretary of State Mike Pompeo finished a tour of Western European countries, including Germany and Britain, which have also resisted U.S. calls for an ban after Washington blacklisted Huawei.
Chinese telecoms equipment maker Huawei has a hidden "backdoor" on the network of a major Dutch telecoms firm, making it possible to access customer data, newspaper De Volkskrant said on Thursday, citing unidentified intelligence sources. The newspaper said Dutch intelligence agency AIVD was looking into whether the situation had enabled spying by the Chinese government. In a statement, Huawei said it was "surprised" by the Volkskrant report and that it would not respond to its core allegations because they came from anonymous sources.
Dutch telecom firm Royal KPN NV said on Friday it would select a Western supplier to build its core 5G mobile network, making it one of the first European operators to make clear it would not pick China's Huawei for such work. The United States has been seeking to discourage its allies from using equipment made by Huawei because of concerns that it could be used for spying by the Chinese government. Huawei says such worries are baseless and U.S. policy is driven by economic interests.
AMSTERDAM (Reuters) - Dutch telecom company KPN will strip out equipment made by China's Huawei from its existing core mobile telecommunications network at the same time as it upgrades to 5G technology, ...
The Dutch government on Monday said it had established a special task force to weigh potential security risks as it prepares to build a 5G telecommunications network. The announcement came after Dutch Prime Minister Mark Rutte on Friday said his government was still exploring options for 5G and had not yet formed an opinion on the possible role of Chinese companies. The United States has lobbied Europe to shut out China's Huawei from such projects, saying its equipment could be used by the Chinese government for espionage.
Announcement: Moody's announces completion of a periodic review of ratings of Koninklijke KPN N.V. Madrid, March 14, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Koninklijke KPN N.V. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
AMSTERDAM (Reuters) - The Dutch government submitted a law to parliament on Tuesday that would enable it to block takeovers of telecom companies if they were deemed a threat to national security. The law ...
KPN shares jumped the most since 2013. Canada’s largest alternative asset manager is holding exploratory talks with Dutch pension funds PGGM and APG Groep NV about partnering on a potential bid for KPN, said the people, who asked not to be identified because the matter isn’t public. The company had a market value of about 10.6 billion euros ($12.2 billion) on Wednesday, before Brookfield’s deliberations were reported.
Luxury stocks were a silver lining for European markets on Wednesday after strong results from LVMH reassured investors, while looming U.S.-China trade talks kept trading muted and some earnings disappointments weighed. Europe's STOXX 600 traded sideways before closing up 0.25 percent and was on track for its best monthly performance since October 2015. France's LVMH shares jumped 6.7 percent after upbeat results from the luxury conglomerate, which said it was "cautiously" confident as fourth-quarter sales held up despite fears of a China slowdown.
"Our evolving landscape requires us to become more flexible, improve our time to market and bring innovation to our customers faster than ever," Chief Executive Maximo Ibarra said in a statement. It also plans to add 1 million new customers to its fibre-to-the-home (FttH) data network by the end of 2021. KPN stuck to its targets for 2018.
Deutsche Telekom secured unconditional EU antitrust approval on Tuesday for its bid to acquire Tele2's Dutch business, a move which may trigger a wave of consolidation in the industry as companies bet on a softer regulatory touch. The European Commission said its investigation showed that the deal posed no competition concerns. "After thoroughly analysing the specific role of T-Mobile NL and the smaller Tele2 NL in the Dutch retail mobile market, our investigation found that the proposed acquisition would not significantly change the prices or quality of mobile services for Dutch consumers," European Competition Commissioner Margrethe Vestager said in a statement.