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Dutch Telecom KPN

Hedge Fund Manager Buys Stake in Dutch Telecom KPN

John Paulson, an American hedge fund manager, and head of Paulson & Co., a New York-based investment management firm, has acquired stake in KPN, a Dutch landline and mobile telecommunications company.
After talking up the prospects for the European telecom sector, billionaire investor John Paulson is putting his money where his mouth is.
The hedge-fund manager has emerged as a shareholder in Dutch operator KPN, underscoring that investors are betting on further consolidation of Europe’s fragmented telecom market.
Mr. Paulson’s investment firm, Paulson & Co., held a 4.54% stake in the Dutch company as of Monday, according to a regulatory filing published Thursday by Dutch financial-markets regulator AFM. It was the hedge fund’s first notification as a KPN shareholder.
KPN declined to comment, while Paulson & Co. wasn’t immediately available for comment.
Mr. Paulson is best known for his lucrative bets on the U.S. subprime-mortgage crisis, but his firm has also posted gains on the recent wave of mergers in the U.S. cable market.
Source: Wall Street Journal

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