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Tag: america movil
KPN foundation blocks America Movil bid
2013-08-30 08:24:00| Telecompaper Headlines
(Telecompaper) A foundation set up to protect the interests of KPN has exercised a call option to take 49.9 percent of the voting rights in the Dutch operator. The Stichting Preferente Aandelen B said it decided to use the option in order to protect the interests of KPN and its stakeholders, including shareholders, employees, unions, customers and Dutch society. In a statement, it said these interests were at risk from the unsolicited takeover bid announced by America Movil. It claimed that America Movil knowingly chose the hostile route in order to create unrest among stakeholders. The Stichting called for America Movil to start talks with KPN and the Dutch government. Earlier in the week the Mexcian company already met with KPN's unions and a Dutch government minister. The unions appeared satisfied from the talks, while the minister also called it a "useful" conversation. However KPN's works council later issued a statement calling on the government to block the takeover in the name of the public interest.
Tags: america
foundation
bid
blocks
America Movil may pull KPN offer
2013-08-30 02:00:00| Total Telecom industry news
Shareholder group blocks deal by exercising option to acquire almost half of Dutch incumbent's voting shares.
Tags: offer
america
pull
movil
KPN, Telefonica win America Movil support for German deal
2013-08-27 02:00:00| Total Telecom industry news
Dutch incumbent to receive 5 billion in cash for E-Plus and a 20.5% stake in the combined business.
Tags: support
america
win
deal
KPN wins America Movil support for German deal
2013-08-26 13:35:15| Telecom - Topix.net
A statement issued by KPN Monday said that Slim's America Movil would give its "irrevocable commitment" to back the E-Plus sale.
Tags: support
america
deal
german
America Movil agrees support for KPN sale of E-Plus
2013-08-26 08:43:00| Telecompaper Headlines
(Telecompaper) Telefonica has agreed to give KPN a bigger stake in their combined German mobile operators in order to gain approval for the deal from KPN's largest shareholder, America Movil. KPN will still receive EUR 5 billion cash for merging E-Plus with Telefonica Deutschland. In addition, the Dutch operator will receive a stake of 20.5 percent in the new company, up from 17.6 percent as agreed in July. Telefonica will hold 62.1 percent in the German company, instead of the 65 percent originally agreed, and the remainder will be free float. Telefonica will still have an option to increase its stake to 65 percent, a year after completing the initial deal at a price of EUR 510 million. KPN shareholders are scheduled to vote on the proposed sale of E-Plus on 02 October. America Movil said in a statement that it will vote for the transaction at the EGM; its board members at KPN also approved the new deal. In addition, the Mexican company reiterated its intention to launch a takeover bid for control of KPN, saying it recently presented the bid to KPN management and plans to start talks with local authorities on the offer.
Tags: support
sale
america
agrees
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