KPN, the Dutch telco, yesterday rebutted suggestions that it had become vulnerable to a takeover as consolidation gathered pace across Europe with Telefonica, the spanish group taking over O2 of the UK.
The fun part about this statement is that only recently KPN looked like a bidder for O2 themselves, only to be outgunned by the Spanish. So what is KPN on about? Well, their statement is really corporate mumbo jombo for "we're keeping our options open and our price high".
Ther fact that they're cutting costs, including R&D, and increasing earnings and positive cashflow smell to me like their both trying to increase their short term worth in case of a bid whilst also increasing their cash incase they want to buy something - TDC? Who knows. But I'm not sure that standing still is the best outcome for small regional operators such as KPN - either get merging or get merged!