kded4 100% CPU usage after OpenVPN disconnect

[Victor]

Fresh Kubuntu 11.04 install on a Lenovo ThinkPad Edge 14 (Intel)

I have configured KNetworkManager to work with OpenVPN. It works fine!, I can connect to my VPN and everything works smoothly.
But when I disconnect, 'kded4' process starts eating 100% CPU. I have to logoff and login again, because the desktop becomes unusable.
I can always reproduce this bug, so I can provide more information if it is requested.

$ lsb_release -rd
Description: Ubuntu 11.04
Release: 11.04

ProblemType: Bug
DistroRelease: Ubuntu 11.04
Package: kdelibs-bin 4:4.6.2-0ubuntu4
ProcVersionSignature: Ubuntu 2.6.38-8.42-generic 2.6.38.2
Uname: Linux 2.6.38-8-generic x86_64
Architecture: amd64
Date: Tue May 10 15:05:18 2011
ExecutablePath: /usr/bin/kdeinit4
InstallationMedia: Kubuntu 11.04 "Natty Narwhal" - Release amd64 (20110427)
ProcEnviron:
 LANGUAGE=es_AR:es
 LANG=es_AR.UTF-8
 SHELL=/bin/bash
SourcePackage: kde4libs
UpgradeStatus: No upgrade log present (probably fresh install)
XsessionErrors: (firefox-bin:2838): GLib-CRITICAL **: g_hash_table_insert_internal: assertion `hash_table != NULL' failed