KPN in talks with SingTel

KPN in talks with SingTel

AMSTERDAM (Dow Jones): Dutch telecommunications company Royal
KPN NV (KPN) Friday confirmed it is in talks with Singapore
Telecommunications Ltd. on a possible sale of the 22.3 percent
stake it owns in Indonesia's biggest cellular phone operator PT
Telkomsel, a unit of PT Telekomunikasi Indonesia.

"We confirm we are in talks with SingTel on a possible sale of
the stake," KPN spokesman Bram Oudshoorn said.

Oudshoorn declined to say when an agreement is expected to be
reached or how much the company hopes to get for its stake.

Oudshoorn however said he feels it's "encouraging that the
other party involved in the talks is making that public."

SingTel Friday confirmed it is in talks with KPN on a possible
transaction.

An unsourced article in Friday's Singapore Business Times said
KPN could get between $500 million and $600 million for the
Telkomsel stake.