Pressure has intensified on KPN, the struggling Dutch telecom company, to attempt a speedy float of its mobile phone business after international rating agency Standard & Poor's threatened to downgrade the firm unless it reduces its heavy debt burden.
S&P, which rates the company BBB+, said it would downgrade KPN unless it reduces its debt by at least €5.4bn ($4.6bn). Analysts said that, of the alternatives on offer, KPN would probably have to float its KPN Mobiel business if it hoped to cut its debt by that amount.
