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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (12028)	11/10/1999 5:43:00 PM
From: RockyBalboa	Respond to of 18998

The Dutch learn the IPO Backdoor effect : biz.yahoo.com Wednesday November 10, 9:59 am Eastern Time KPN loses in favor of KPNQwest AMSTERDAM, Nov 10 (Reuters) - A bull run in newly listed joint venture KPNQwest (NasdaqNM:KQIP - news) sapped the share price of Dutch telecoms firm KPN, sending it sliding over four percent on Wednesday, traders said. Shares in KPN, the largest loser in the blue chip AEX index, sank 4.2 percent to 50.35 euros by 1450 GMT, 40 minutes before the close. ''There's an obvious flow from KPN shares into KPNQwest, which is not surprising in a market where telecoms propositions are very hot these days,'' one trader said. Data and Internet firm KPNQwest made its debut on the Amsterdam and New York stock exchanges on Tuesday. It skyrocketed from its issue price of 20 euros to close at 30.30 euros in Amsterdam. It was trading 4.6 percent lower at 28.90 euros on Wednesday afternoon. ''KPNQwest is just easing from yesterday's jump, it looks like it's depressed, but in fact the shares are very strong,'' said one dealer. KPNQwest is a joint venture between KPN and U.S. firm Qwest (NasdaqNM:QWST - news), which each own 45 percent stakes in the company. Btw, also KPNQUEST looks good, and maybe it pulls off another UPC.