America Movil cuts stake in KPN

Tuesday 22 July 2014 | 10:16 CET | News
America Movil has reduced its stake in Dutch operator KPN to 22.6 percent. The Mexican company said in its Q2 report that it sold some of its KPN shares to help finance other investments. Its stake has now fallen from a peak a 29.8 percent last year when it launched a failed takeover bid for KPN. According to CFO Carlos Garcia-Moreno, America Movil plans to maintain its stake at around 20 percent in order to keep its two seats on KPN's supervisory board. This right drops to one seat if the stake falls to 10 percent and to zero seats if the company has less than 10 percent of the shares.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: America Movil / KPN
Countries: Netherlands
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


America Movil raises stake in KPN to 20%

Published 27 Jan 2021 14:38 CET | Netherlands
American Movil has again increased its stake in KPN, taking it to 20 percent from 16 percent, according to a filing with the ...

America Movil considers sale of 21% KPN stake - report

Published 21 Apr 2016 14:20 CET | Netherlands
America Movil is considering the sale of its minority stake in Dutch operator KPN, people with knowledge of the matter told ...

Slim seeks partner to enter India telecom market - report

Published 28 May 2015 08:05 CET | India
Mexican billionaire Carlos Slim, owner of America Movil, has "made a quiet trip to India about two weeks ago" to study ...

America Movil to issue bonds exchangeable for KPN shares

Published 20 May 2015 10:51 CET | Netherlands
America Movil announced plans to issue bonds exchangeable into KPN shares. The offering is expected to raise EUR 2.25 billion, ...

America Movil CFO sells shares in KPN

Published 03 Nov 2014 14:35 CET | Netherlands
America Movil CFO Carlos Garcia Moreno Elizondo has reduced his stake in Dutch operator KPN. Elizondo is one of two ...

America Movil will not hurry decision about KPN share - CEO

Published 27 Oct 2014 17:28 CET | Mexico
Mexican telecoms operator America Movil will wait until next year to decide the future of its stake at Dutch operator KPN, ...

America Movil stake in KPN falls to 21.4%

Published 24 Oct 2014 10:58 CET | Netherlands
America Movil's stake in KPN has fallen to 21.4 percent, according to the Mexican operator's latest quarterly report. It last ...

KPN Q2: goede investeringen in mobiel maar te zuinig met vast

Published 01 Aug 2014 02:10 CET | Netherlands
KPN maakte zwakke resultaten bekend over het tweede kwartaal, maar handhaafde de outlook voor het hele jaar. De over een breed ...

KPN Q2: omzet -7,1%, outlook blijft, afschrijving E-Plus

Published 30 Jul 2014 08:33 CET | Netherlands
KPN maakt de resultaten bekend over het tweede kwartaal. De omzet is met 7,1 procent teruggevallen tot 2,00 miljard euro. Vorig ...

America Movil profit up in Q2 on lower financial costs

Published 22 Jul 2014 09:17 CET | Latin America
America Movil signaled plans to step up investment in networks as its revenue and customer growth started to slow. The company ...

AMX verkleint belang in KPN tot 22,6%, behoudt zetels in RvC

Published 22 Jul 2014 08:56 CET | Europe
América Móvil (AMX) heeft zijn belang in KPN verder verkleind. Dat bleek dinsdag uit een toelichting op de Q2-cijfers van de ...

America Movil hints at KPN stake sale

Published 14 Jul 2014 09:44 CET | Mexico
America Movil plans to sell an "attractive" cross-section of the company in order to avoid increased regulation in Mexico, its ...

America Movil reduces KPN stake below 27%

Published 26 Mar 2014 14:33 CET | Netherlands
America Movil has furher reduce its stake in KPN from 27.1 percent to 26.69 percent, according to a filing at the Dutch financial ...

KPN withdraws preference shares

Published 21 Mar 2014 11:10 CET | Netherlands
KPN announced it has withdrawn its outstanding preference B shares. Shareholders approved the decision at a meeting in January. ...

KPN may not remain independent - CEO

Published 25 Feb 2014 11:10 CET | Netherlands
KPN may no longer be an independent operator in 4-5 years time, according to CEO Eelco Blok. In an interview with Dutch paper NRC ...

America Movil trims stake in KPN

Published 12 Feb 2014 12:30 CET | Netherlands
America Movil said it had a 27.1 percent stake in Dutch operator KPN at the end of 2013, down from the previously announced 29.7 ...