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General

America Movil believes in KPN, but offers no guarantees

Tuesday 8 May 2012 | 11:17 CET | Author: Tim Poulus | Market Commentary
America Movil plans to increase its stake in KPN to 28 percent, from the current 4.8 percent. The Latin America operator plans a bid of EUR 8 per share for the additional shares, which represents a premium of 24 percent on the closing share price the day before the announcement (EUR 6.48). The bid would be worth in total around EUR 2.6 billion, and the transaction is expected to close in June. The stake must remain below 30 percent, otherwise stock market rules would force America Movil to launch a bid for the entire company.

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Categories: General
Companies: America Movil / KPN
Countries: Netherlands
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