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Tag: america movil
America Movil to pay dividends, boost buyback fund
2013-03-20 01:00:00| Total Telecom industry news
Shareholders will vote on 22 cents-per-share dividend plan by end of next month.
America Movil S.A.B. de C.V. Rating Lowered to Underperform at Zacks
2013-03-06 01:03:49| Telecom - Topix.net
They currently have $19.00 price target on the stock. Zacks' analyst wrote, "We downgrade our recommendation on America Movil to Underperform from Neutral.
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america
lowered
sab
America Movil doesn't ask for much in return for KPN support
2013-02-21 01:00:00| Total Telecom industry news
Mexican telco will participate in KPN's 4 billion capital raising plan; pair unveil new 'relationship agreement'.
Tags: for
support
return
america
America Movil agrees support for KPN rights issue
2013-02-20 09:04:00| Telecompaper Headlines
(Telecompaper) KPN said it has signed a long-term relationship agreement with America Movil (AMX), its largest shareholder, which will support KPN in its bid to raise EUR 4 billion in equity capital. AMX said it will, subject to certain conditions, vote in favour of certain resolutions to be put before the general meeting of shareholders. The AGM is scheduled to take place on 10 April, and replaces the EGM planned for 19 March, which is hereby cancelled. AMX will approve KPN's capital increase subject to to the appointment of two individuals, designated by AMX, to KPN's supervisory board, amongst other conditions. The capital to be supported by AMX will consist of a EUR 3 billion rights issue and the issue of hybrid capital instruments which are expected to receive partial equity recognition, bringing the total to EUR 4 billion. KPN will use the proceeds to reduce its net debt level and to continue investing in operations. AMX will participate in the rights issue pro rata to its current stake of around 28 percent in KPN. KPN said that it and AMX look forward to further developing their relationship by leveraging the financial, commercial and operational expertise of both parties.
Tags: rights
support
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america
America Movil demands changes at KPN - report
2013-02-13 15:42:00| Telecompaper Headlines
(Telecompaper) America Movil is seeking changes at KPN that may give it greater influence on the Dutch company's management before agreeing to support KPN's planned EUR 4 billion, people familiar with the matter told Bloomberg. America Movil, which holds a 28 percent stake in KPN, may impose conditions including a seat on KPN's board and the replacement of CEO Eelco Blok, the report said. America Movil will almost certainly not participate in the rights issue unless at least some conditions are met, according to Bloomberg's sources. Analysts warned that if the rights issue does not go ahead, KPN could be forced into a restructuring with its debtholders. KPN declined to comment. When KPN announced the proposed rights issue on 05 February, CEO Blok said that America Movil's position was unclear. The Mexico-based company offered EUR 8 per share to build its stake in KPN last year. The Dutch operator's stock has since fallen to around EUR 3.25. KPN shareholders are set to vote on the share sale proposal at a meeting on 19 March.
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america
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