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UBS executes €1.2bn KPN block trade in half an hour

UBS Warburg wrapped up a quickfire €1.2bn ($1.1bn) block trade in KPN, the Dutch telecoms firm, after winning the bid on Tuesday night at a tight 0.6% discount.

One banker close to the deal said: &quotIt was a competitive bid on risk as the company wanted certainty of proceeds and we knew we had to place the shares.&quot

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