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
