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Europe

KPN Bid Talk Resurfaces

1:35 PM -- Not for the first time, Spanish giant Telefónica SA (NYSE: TEF) is being linked with a possible takeover bid for Dutch incumbent KPN Telecom NV (NYSE: KPN).

The same speculation surfaced early in January, giving KPN's stock an early-year boost. (See KPN Bid Rumor.)

Now, courtesy of the Financial Times Deutschland, the rumor is back in circulation. Check out this recap from MarketWatch for the details.

KPN has mobile operations in neighboring Germany and Belgium and a majority stake in international VOIP carrier iBasis Inc. (Nasdaq: IBAS), as well as its domestic fixed-line and mobile businesses. (See IBasis Merges With KPN.)

Its share price of €12.22, up nearly 3 percent in the past two days, gives KPN a current market valuation of €22 billion (US$34.44 billion).

The reheated rumor comes only days after Orange (NYSE: FTE) admitted it is sizing up an offer for Scandinavian powerhouse Telia Company . (See Emerging Markets Drive FT's M&A Plans.)

— Ray Le Maistre, International News Editor, Light Reading

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