We’re not sure how proud the European Commission will feel as it dawns on its senior technology executives that they may well have killed off their first incumbent telco in Europe – as the merger between Vodafone and Liberty Global begins to challenge KPN in the Netherlands in competition that looks terminal. The EC approved Liberty Global’s purchase of cableco Ziggo in October 2014, and now the merger between Vodafone Netherlands and Ziggo immediately puts KPN on the defensive. It will overnight increase both its capex and marketing spend and continue its revenue reduction at a rate which is likely to destabilize it and put it up for sale in the next couple of years. Right now KPN is riding…