However, the carrier's CEO, Ad Scheepbouwer, warns that KPN's M&A spree is not extending to a major mobile operator acquisition in France just yet. "In relation to ongoing speculation about KPN's intentions to make a pre-emptive bid for Bouygues Telecom , KPN wishes to state that no such bid is forthcoming."

    Headded: "We have just announced an intended bid for Getronics and are working on opportunities to strengthen our Belgian business by means of smaller fill-in acquisitions... This is not the time to entertain possibilities of a move to acquire Bouygues Telecom," stated the CEO.

    Bouygues Telecom has nearly 9 million mobile customers in France.

    KPN's share price increased by €0.38, about 3.5 percent, to €11.20 in morning trading on the Amsterdam exchange Tuesday.