KPN Bid Rumor
See this Bloomberg report for the details.
The rumor is not a new one -- the two carriers have been linked a number of times in the past few years. (See Dutch Put KPN on the Block.)
Telefónica is already one of Europe's (and the world's) biggest operators, with fixed-line operations in Germany and the Czech Republic along with its pan-European Telefónica Europe plc (O2) mobile empire. KPN has mobile assets in Belgium and Germany as well as its domestic operations.
— Ray Le Maistre, EuroRumors Editor, Light Reading