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Wednesday, November 19, 2014

KPN may sell Telefonica Deutschland stake - CEO, (NYSE: MS)

Dutch telecoms group KPN may sell its 20.5 percent stake in German mobile operator Telefonica Deutschland, but it has not yet decided to do so, the group's chief executive told an investor conference on Wednesday. KPN, in which Mexican group America Movil has a 20 percent stake, holds the shares in Telefonica Deutschland after selling its German arm E-Plus to Telefonica in a deal valued at 8.6 billion euros ($10.80 billion)."That could be one of the interesting options. In the end all depends on price," CEO Eelco Blok replied to questions whether his company would sell the stake.Blok, speaking at the Morgan Stanley Media & Telecoms Conference in Barcelona on Wednesday, said KPN had agreed to a six month lockup period with Telefonica and still had time to decide. The sale of E-Plus was completed in October 2014."Looking at the value of Telefonica Deutschland of today there is clearly upside. That's one of the elements that we will take into account when deciding what to do with our stake," Blok added.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.08% or $0.03/share to $35.50. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9958410 shares of MS exchange hands on a given day and today's volume is recorded at 2882049.