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Sliding stock fails to hinder $4.6bn KPN issue
Posted: 20-Nov-2000 [Source: Financial Times]

[Dutch group raises monies to allow funding of 3G investments.]

by Gordon Cramb, Amsterdam -- "KPN, the Dutch telecommunications group, on Sunday raised at least E5.5bn ($4.6bn) in badly needed new capital, carrying off an issue of shares and convertible notes in the face of a sliding stock price.

"The success of the offer will allow it to fund investments made in third-generation mobile telephony in the Netherlands, Germany and the UK. It will also pave the way for the planned flotation of its KPN Mobile unit next year.

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