América Móvil poised to meet KPN shareholding target
See more DutchNews articles in your Google search results
See more DutchNews articles in your Google search results
Add as a favourite source on Google Add DutchNews as a favourite source on GoogleMexican telecoms firm América Móvil has built up a stake of almost 25% in Dutch peer KPN, but has been offered some 40% of the outstanding shares, Nos television reports.
This means América Móvil will achieve its target of a 27.7% stake in the Dutch firm and not all shareholders will have been able to sell their stock. The company’s deadline for acceptance of its €8 a share offer expired on Wednesday night.
The Mexican group does not want to buy more than 30% of KPN because it will then be forced to bring out an offer for the entire company.
KPN’s board strongly opposed the offer and tried to sell its successful German subsidiary E-Plus in an effort to generate more shareholder value.
Is this good or bad news for KPN? Have your say in the comments form below.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.
Make a donation