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ATLANTA—BellSouth Corp. announced it sold its entire stake, or 234.7 million shares, in Dutch telecommunications provider Royal KPN. The sale will give the company an after-tax gain of $850 million during the first quarter.
BellSouth and KPN in January restructured their relationship to allow BellSouth to exchange its 22.51-percent sake in German mobile-phone carrier E-Plus for 234.7 million shares of KPN, or 9.42 percent of KPN’s outstanding shares.
