Dutch telecoms group KPN (KPN.AS: Quote, Profile, Research, Stock Buzz) is on track to meet its 2010 targets despite the credit crisis, thanks to its discount services in Germany and Belgium and domestic business, its chief executive was quoted as saying on Tuesday. "It will be more difficult to achieve the objectives. We must work harder in general. But we think we can do it," CEO Ad Scheepbouwer told daily Het Financieele Dagblad in an interview.

In February, the former Dutch telecoms monopoly set a 2010 earnings before interest, tax, depreciation and amortisation (EBITDA) target of at least 5.5 billion euros ($6.93 billion) and a dividend of 0.80 euros per share. It earned 4.9 billion euros in EBITDA in 2007 and paid shareholders a dividend of 0.54 euro per share.

Scheepbouwer said KPN would decide next year whether to roll out a nationwide glass-fibre network estimated at around 3 to 4 billion euros for connecting most parts of the Netherlands.

Asked if the current moment was favourable for a takeover, he said: "There are not that many companies that have problems. They all have respectable cashflow and each can pay its bills." ($1=.7931 euros)

Source:Reuters