EQT Is Said to Approach $13 Billion Carrier KPN on Takeover (2)

EQT AB has approached Dutch phone company Royal KPN NVabout a takeover, a sign the European private equity firm is moving ahead with a deal that would rank as its largest ever, people with knowledge of the matter said.

The buyout firm has been holding initial talks with Rotterdam-based KPN as it seeks to reach a friendly deal, according to the people. EQT is working with advisers and discussing financing for the potential purchase, the people said, asking not to be identified because the information is private.

KPN has the largest fiber-optic network footprint in the Netherlands, providing a ...