BellSouth, the US communications company, has rushed to assure investors in KPN that it is not about to sell the €1.3bn ($1.1bn) of stock it has just inherited from the Dutch telecom operator.

The US company has acquired the shares in exchange for its 22.5% stake in E-Plus, the German mobile operator. KPN's shares plummeted when the deal was announced on Wednesday, losing more than 9% amid concerns that BellSouth would sell the shares as soon as it got them.

Michael Hoare

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BellSouth looks to cushion KPN's fall

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