Yeah, sort of. It's København in Danish, the ø is the neutral schwa vowel, spoken Danish is happy to drop a lot of letters so the "e" drifts off into the mist. It's not really clear whether the "b" is a "b" or a "p" sound (the difference is voicing and perhaps a little plosive-ness). Without the "e", the "n" assimilates by place to the "b" (or "p") to become an "m" and the "vn" acquires a hint of a glottal stop - Danish likes glottal stops (stød) - like the one in Hawai'i. Danish spelling is more phonetic than English spelling, but not as rigorously as Norwegian.
So [køpm̩'hɑwɂn]. Or, to Norwegian ears Køɂøɂøɂn (just joking!).
But! Every Dane I have worked with calls the city Copenhagen when speaking English, pronounced the (British) English way, y'know, cope-en-hay-gun. I think it's one of those world cities, like Paris, whose name changes with language.
The name means "merchant harbour". The modern verb "købe" means "buy"; "havn" is the English "haven", a natural safe harbour. Showing the p/b substitution thing, the same verb is "køpe" in Norwegian, Norwegian often has "p" where Danish has "b", e.g. "skip" versus "skib" for English "ship", without necessarily much difference in pronunciation.