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General

America Movil abandons KPN takeover bid

Wednesday 16 October 2013 | 23:27 CET | News
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America Movil has abandoned its proposed takeover bid for KPN, after it was unable to reach an agreement with the Dutch company. The Mexican company already holds 29.8 percent of KPN's shares and said in early August it would pay EUR 2.40 per share for the remainder. The companies have been in talks for several weeks and recent reports suggested they were nearing an agreement. However, KPN was unwilling to continue the talks without an increase in the bid price. The takeover was further complicated by the foundation set up to protect KPN's interests. In late August it exercised an option to

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Categories: General
Companies: America Movil / E-Plus / KPN / Telecompaper / Telefonica Germany
Countries: Netherlands
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