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Reuters exclusive with KPN CEO sparks share recovery

Reuters exclusive with KPN CEO sparks share recovery

After Reuters reported that KPNs E-Plus wireless business in Germany would have to spend more to remain competitive there or sell out, CEO Ad Scheepbouwer called on June 11 to say the company was firmly committed to the market. Scheepbouwer quashed any speculation of selling the unit and gave the clearest indication to date of how far profit margins could go. Share trading volume spiked as investors tried to interpret the news, and eventually the stock recovered most of the days drop.

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