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KPN and the State have now reached agreement on the transfer and disposal of the State's special share in KPN
December 16, 2005
THE HAGUE -- Following the recent reduction by the Dutch State of its shareholding in KPN (the sale of 165 million ordinary shares on 7 December lowering its shareholding in the company to approximately 8%), KPN and the State have now reached agreement on the transfer and disposal of the State's special share in KPN. Effective as of today, KPN has repurchased the special share for its nominal value of 48 eurocents, as provided in the Articles of Association.
At the next Annual General Meeting of Shareholders on April 11th, 2006, KPN will propose an amendment to the Articles of Association to fully annul the special share. In the mean time, KPN will not sell or otherwise use the special share.
KPN Telecom NV
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