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Brookfield Weighs Potential Bid for Dutch Royal KPN Phone Company

Canadian asset manager is in talks to bid with pension funds
Brookfield hasn’t approached KPN, may decide against a bid

Inside a Royal KPN NV mobile phone store in Nijmegen, Netherlands. — Inside a Royal KPN NV mobile phone store in Nijmegen, Netherlands.
Photographer: Jasper Juinen

By

Aaron Kirchfeld,

Ruth David, and

January 31, 2019, 11:50 AM UTCUpdated onJanuary 31, 2019, 7:39 PM UTC

Brookfield Asset Management Inc. is considering making an offer for Dutch phone company Royal KPN NV, according to people familiar with the matter. 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.