Mon - Telefonica in talks to acquire KPN for Euro20bn

Telefonica of Spain has apparently approached KPN about acquiring the Dutch telecoms operator for around Euro20bn.

If such a deal were to go ahead it could lead to the biggest shake-up of the European telecoms industry for years. It would also create another sizeable pan-European player to rival France Telecom, Deutsche Telekom and Vodafone.

Both Telefonica and KPN are denying the rumours.