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General

KPN foundation defends opposition to America Movil bid

Monday 2 September 2013 | 08:49 CET | News
The 'poison pill' set up by the foundation blocking America Movil's takeover of KPN was created because the bid did not have KPN's support and no merger agreement was negotiated, according to Peter Wakkie, a director for the foundation. Speaking at a press conference on the foundation's decision to exercise an option giving it just under half the voting rights in KPN, he said it was not the result of "ideological opposition". The bidding process to date has lacked nuance, and the foundation's decision aims to bring more clarity, Wakkie said. The process should start over, be conducted more

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Categories: General
Companies: KPN
Countries: Netherlands
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