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General

America Movil reclassifies KPN stake as asset for sale

Friday 17 July 2015 | 13:46 CET | News
America Movil has reclassified its stake in KPN as an "asset available for sale". Previously the around 21 percent stake was considered a "long-term investment valued at cost". According to the Mexican company's Q2 report, the reclassification is due to the issue in May of bonds convertible to KPN shares, a method to dispose of the stake eventually. The underlying shares in the no-interest, five-year bond are the equivalent of 14.3 percent of KPN's total outstanding. The stake in KPN is now included in the cash and securities line of the company's balance sheet, at the carrying cost of MXN

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